Legg Mason Correlations

Mutual Funds . USA . 
Fund . Legg Mason Bw
GOBAX Fund  USD 8.45  0.02  0.24%   
The current 90-days correlation between Legg Mason Bw and Nationwide E Plus is 0.66 (i.e., Poor diversification). The correlation of Legg Mason 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.

Legg Mason Correlation With Market

Modest diversification

The correlation between Legg Mason Bw and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Legg Mason Bw 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 Legg Mason Bw. 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 nation.

Moving together with Legg Mutual Fund

  0.95TEBIX Franklin Mutual BeaconPairCorr
  0.71TEDMX Templeton DevelopingPairCorr
  0.9TEDIX Franklin Mutual GlobalPairCorr
  0.9TEDSX Franklin Mutual GlobalPairCorr
  0.9TEDRX Franklin Mutual GlobalPairCorr
  0.74TEFRX Templeton ForeignPairCorr
  0.74TEFTX Templeton ForeignPairCorr
  0.99TEGBX Templeton Global BondPairCorr
  0.88TEGRX Templeton GrowthPairCorr
  0.73TEMFX Templeton ForeignPairCorr
  0.74TEMGX Templeton Global SmallerPairCorr
  0.95TEMEX Franklin Mutual BeaconPairCorr
  0.76TEMWX Templeton WorldPairCorr
  0.8TEMTX Franklin Mutual SharesPairCorr
  0.75TEMQX Mutual QuestPairCorr
  0.84FQCTX Franklin Necticut TaxPairCorr
  0.72SAIFX Clearbridge Large CapPairCorr
  0.75SAGYX Clearbridge AggressivePairCorr
  0.81FQCHX Franklin Templeton SmacsPairCorr
  0.73TEQIX Franklin Mutual QuestPairCorr
  0.88TEPLX Templeton GrowthPairCorr
  0.76TWDAX Templeton WorldPairCorr
  0.8TESIX Franklin Mutual SharesPairCorr
  0.73TESGX Templeton Global SmallerPairCorr
  0.8TESRX Franklin Mutual SharesPairCorr
  0.64LGGAX Clearbridge InternationalPairCorr
  0.89LGIEX Qs International EquityPairCorr
  0.88FQLAX Franklin Louisiana TaxPairCorr
  0.75TEWTX Templeton WorldPairCorr
  0.78SAPYX Clearbridge AppreciationPairCorr
  0.73SASMX Clearbridge Small CapPairCorr
  0.89FQNCX Franklin North CarolinaPairCorr
  0.85FQMDX Franklin Maryland TaxPairCorr
  0.64WAARX Western Asset TotalPairCorr

Moving against Legg Mutual Fund

  0.57WAADX Western Asset SmashPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Legg Mutual Fund performing well and Legg Mason 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 Legg Mason'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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