Clearbridge Variable Correlations

Mutual Funds . USA . 
Fund . Clearbridge Variable Appreciation
CVAPX Fund  USD 61.01  1.09  1.76%   
The current 90-days correlation between Clearbridge Variable and Thrivent Natural Resources is 0.1 (i.e., Average diversification). The correlation of Clearbridge Variable is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Clearbridge Variable Correlation With Market

Good diversification

The correlation between Clearbridge Variable Appreciat and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Clearbridge Variable Appreciat and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Clearbridge Variable Appreciation. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with Clearbridge Mutual Fund

  0.8VTSAX Vanguard Total StockPairCorr
  0.79VFIAX Vanguard 500 IndexPairCorr
  0.8VTSMX Vanguard Total StockPairCorr
  0.81VITSX Vanguard Total StockPairCorr
  0.8VSTSX Vanguard Total StockPairCorr
  0.8VSMPX Vanguard Total StockPairCorr
  0.79VFINX Vanguard 500 IndexPairCorr
  0.79VFFSX Vanguard 500 IndexPairCorr
  0.68FTYPX Fidelity Freedom IndexPairCorr
  0.89GCAVX Gmo Small CapPairCorr
  0.75GQLOX Gmo Quality FundPairCorr
  0.91GMCQX Gmo Equity AllocationPairCorr
  0.86JPM JPMorgan ChasePairCorr
  0.82AXP American ExpressPairCorr
  0.62HPQ HP IncPairCorr
  0.72WMT WalmartPairCorr

Moving against Clearbridge Mutual Fund

  0.83GAAVX Gmo Alternative AlloPairCorr
  0.55GABFX Gmo Asset AllocationPairCorr
  0.53TRV The Travelers Companies Sell-off TrendPairCorr
  0.49VZ Verizon Communications Sell-off TrendPairCorr
  0.33JNJ Johnson JohnsonPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Clearbridge Mutual Fund performing well and Clearbridge Variable Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Clearbridge Variable's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

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