Perhaps the + and - on the replacement thermocouple are reversed or miss-labelled?
I find for average use there isn't a lot of difference between the thermocouple thingies supplied with multimeters and the cheap generics sold at electronics stores
FWIW, I had a few on the bench a while back, Fluke, Brymen, Mastech and others compared with a few cheapies from Jaycar Electronics,
all immersed in the same container of boiled hot water, and the readings checked as the water cooled
I swapped them about at random amongst the meters, and the worst case difference may have been 1 or 2 degrees Celsius,
which may have been meter differences too rather than just the thermocouples
At various points they were all pretty much in agreement, give or take .05
so I stopped there and packed the lot away to get the kitchen table back to normal duties
Anyway it was just a rough go / no go / curiosity test to decide if any are 'better' or more accurate etc and take a note for future reference
and not blow unnecessary dollars
again You may have scored a dud thermocouple with a break somewhere from the tip to the banana connectors, it happens