Western Asset Correlations

GDO Etf

USD 11.67 0.11 0.95%

The current 90-days correlation between Western Asset Global and Western Asset High is 0.33 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Western Asset moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Western Asset Global moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Western Asset Correlation With Market

Average diversification

The correlation between Western Asset Global and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Western Asset Global and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Western Asset Global. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Western Etf

0.72	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.93	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.91	KO	Coca Cola Aggressive Push	Pair Corr

Moving against Western Etf

0.86	EOS	Eaton Vance Enhanced	Pair Corr
0.83	XHLF	Bondbloxx ETF Trust	Pair Corr
0.82	BTC	Grayscale Bitcoin Mini	Pair Corr
0.81	ETB	Eaton Vance Tax	Pair Corr
0.79	EOI	Eaton Vance Enhanced	Pair Corr
0.79	SPXX	Nuveen SP 500	Pair Corr
0.79	BST	BlackRock Science Tech	Pair Corr
0.78	TGRW	T Rowe Price	Pair Corr
0.72	QQQX	Nuveen NASDAQ 100	Pair Corr
0.68	ETH	Grayscale Ethereum Mini	Pair Corr
0.66	FFA	First Trust Enhanced	Pair Corr
0.57	STK	Columbia Seligman Premium	Pair Corr
0.44	MDIV	First Trust Multi	Pair Corr
0.35	MSTU	T REX 2X	Pair Corr
0.88	BAC	Bank of America Aggressive Push	Pair Corr
0.82	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.8	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.76	DIS	Walt Disney Sell-off Trend	Pair Corr
0.74	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.73	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.59	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.54	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.52	HD	Home Depot	Pair Corr
0.5	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.26	0.55	0.07	0.53	0.05	0.64	0.28	-0.53	0.73	META
MSFT	0.26		0.21	0.17	0.16	-0.01	0.03	-0.11	0.13	-0.2	MSFT
UBER	0.55	0.21		-0.06	-0.09	0.27	-0.03	-0.16	0.09	0.35	UBER
F	0.07	0.17	-0.06		0.28	-0.41	0.5	0.7	-0.37	0.32	F
T	0.53	0.16	-0.09	0.28		-0.5	0.81	0.64	-0.79	0.39	T
A	0.05	-0.01	0.27	-0.41	-0.5		-0.46	-0.6	0.63	0.0	A
CRM	0.64	0.03	-0.03	0.5	0.81	-0.46		0.86	-0.91	0.65	CRM
JPM	0.28	-0.11	-0.16	0.7	0.64	-0.6	0.86		-0.83	0.47	JPM
MRK	-0.53	0.13	0.09	-0.37	-0.79	0.63	-0.91	-0.83		-0.56	MRK
XOM	0.73	-0.2	0.35	0.32	0.39	0.0	0.65	0.47	-0.56		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

JPM	+ 0.86	CRM
CRM	+ 0.81	T
XOM	+ 0.73	META
JPM	+ 0.7	F
XOM	+ 0.65	CRM
CRM	+ 0.64	META

High negative correlations

MRK	- 0.91	CRM
MRK	- 0.83	JPM
MRK	- 0.79	T
JPM	- 0.6	A
XOM	- 0.56	MRK
MRK	- 0.53	META

Western Asset Competition Risk-Adjusted Indicators

There is a big difference between Western Etf performing well and Western Asset ETF 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 Western Asset'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.07	0.07	0.02	0.23	1.41	(1.14)	2.62	(3.15)	8.02
MSFT	0.90	(0.04)	(0.05)	0.07	1.50	(0.86)	2.09	(1.85)	8.19
UBER	1.61	(0.11)	(0.04)	0.02	2.32	(1.70)	2.69	(2.53)	20.10
F	1.42	(0.15)	(0.04)	0.03	2.23	(1.39)	2.53	(2.90)	11.21
T	0.92	0.26	0.12	(7.83)	0.86	(1.06)	2.56	(1.72)	6.47
A	1.17	(0.09)	0.00	(0.06)	0.00	0.00	2.71	(2.42)	9.02
CRM	1.31	0.23	0.18	0.34	1.08	(1.53)	3.18	(1.91)	9.98
JPM	1.12	(0.04)	0.05	0.11	1.38	(1.23)	2.05	(2.00)	15.87
MRK	0.91	(0.24)	0.00	(0.86)	0.00	0.00	2.00	(2.13)	4.89
XOM	1.00	(0.03)	(0.07)	0.06	1.31	(1.04)	2.10	(2.09)	5.74

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