Correlation Between Franklin Templeton and Asg Global
Can any of the company-specific risk be diversified away by investing in both Franklin Templeton and Asg Global at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Franklin Templeton and Asg Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Franklin Templeton Smacs and Asg Global Alternatives, you can compare the effects of market volatilities on Franklin Templeton and Asg Global and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Franklin Templeton with a short position of Asg Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Franklin Templeton and Asg Global.
Diversification Opportunities for Franklin Templeton and Asg Global
0.93 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Franklin and Asg is 0.93. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Templeton Smacs and Asg Global Alternatives in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Asg Global Alternatives and Franklin Templeton is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Franklin Templeton Smacs are associated (or correlated) with Asg Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Asg Global Alternatives has no effect on the direction of Franklin Templeton i.e., Franklin Templeton and Asg Global go up and down completely randomly.
Pair Corralation between Franklin Templeton and Asg Global
Assuming the 90 days horizon Franklin Templeton Smacs is expected to generate 3.25 times more return on investment than Asg Global. However, Franklin Templeton is 3.25 times more volatile than Asg Global Alternatives. It trades about 0.23 of its potential returns per unit of risk. Asg Global Alternatives is currently generating about 0.22 per unit of risk. If you would invest 925.00 in Franklin Templeton Smacs on May 31, 2025 and sell it today you would earn a total of 133.00 from holding Franklin Templeton Smacs or generate 14.38% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 98.41% |
| Values | Daily Returns |
Franklin Templeton Smacs vs. Asg Global Alternatives
Performance |
| Timeline |
| Franklin Templeton Smacs |
| Asg Global Alternatives |
Franklin Templeton and Asg Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Franklin Templeton and Asg Global
The main advantage of trading using opposite Franklin Templeton and Asg Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Franklin Templeton position performs unexpectedly, Asg Global can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Asg Global will offset losses from the drop in Asg Global's long position.| Franklin Templeton vs. Asg Global Alternatives | Franklin Templeton vs. Alliancebernstein Global Highome | Franklin Templeton vs. Ab Global Risk | Franklin Templeton vs. Calvert Global Energy |
| Asg Global vs. Asg Managed Futures | Asg Global vs. Asg Managed Futures | Asg Global vs. Natixis Oakmark | Asg Global vs. Natixis Oakmark International |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.
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