FIEE vs TDF: Correlation
How closely do FiEE, Inc (FIEE) and Templeton Dragon Fund, Inc. (TDF) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FIEE and TDF?
Over the past 3 years, FIEE and TDF moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.12) runs above the 3-year figure (-0.23). Over 5 years the correlation is -0.11, and the annualized covariance of weekly returns is -1406.7 %².
Among the 12 assets we track against FIEE, TDF sits near the bottom by co-movement, at rank #11. The last year tells two different stories: FIEE led by 41.7 percentage points, +45.1% for FIEE against +3.4% for TDF. Risk is not evenly split, since FIEE carries 12.6 times the volatility of the other side.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
FIEE vs TDF: side by side
| FIEE (FiEE, Inc) | TDF (Templeton Dragon Fund, Inc.) | |
|---|---|---|
| 1-year return | +45.1% | +3.4% |
| 5-year return | -92.3% | -29.3% |
| Volatility (ann.) | 279.4% | 22.2% |
| Beta vs S&P 500 | 0.29 | 0.64 |
| Max drawdown (3Y) | -98.1% | -22.2% |
| Market cap | – | $0.3B |
| P/E (trailing) | 9.0 | 3.6 |
| Dividend yield | 0.00% | 3.68% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FIEE | TDF |
|---|---|---|
| 2022 | -84.8% | -32.9% |
| 2023 | -58.5% | -20.1% |
| 2024 | -88.8% | +5.5% |
| 2025 | +1359.1% | +37.7% |
| 2026 | +28.8% | -1.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FIEE and TDF good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between FIEE and TDF?
As of 2026-08-27, the correlation of weekly returns between FIEE and TDF is -0.23 over 3 years, -0.12 over 1 year and -0.11 over 5 years.
Is TDF a good diversifier for FIEE?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: FIEE correlations · TDF correlations
