Legg Mason Correlations

Mutual Funds . USA . 
Fund . Legg Mason Bw
GOBSX Fund  USD 8.59  0.02  0.23%   
The current 90-days correlation between Legg Mason Bw and Ishares Municipal Bond is -0.24 (i.e., Very good 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

Good diversification

The correlation between Legg Mason Bw and DJI is -0.05 (i.e., Good 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 state.

Moving together with Legg Mutual Fund

  0.78LGFEX Qs International EquityPairCorr
  1.0LGOCX Legg Mason BwPairCorr
  0.72WAASX Western Asset TotalPairCorr
  0.95WACIX Western Asset EPairCorr
  0.96WACSX Western Asset EPairCorr
  0.98WABCX Western Asset EPairCorr
  0.97WABRX Western Asset EPairCorr
  0.93WABSX Western Asset IntermPairCorr
  0.7SSTLX Western Asset ShortPairCorr
  0.96WAFCX Western Asset InflationPairCorr
  0.95WAFSX Western Asset InflationPairCorr
  0.96WAFRX Western Asset InflationPairCorr
  0.94WAPCX Western Asset EPairCorr
  0.98WAPIX Western Asset EPairCorr
  0.92WAPSX Western Asset EPairCorr
  0.96WAPRX Western Asset EPairCorr
  0.86SBICX Clearbridge InternationalPairCorr
  0.91SBILX Western Asset PoratePairCorr
  0.76WARIX Western Asset TotalPairCorr
  0.96WATRX Western Asset IntermPairCorr
  0.93WATPX Western Asset InflationPairCorr
  0.81WAUCX Western Asset TotalPairCorr
  0.78WAURX Western Asset TotalPairCorr

Moving against Legg Mutual Fund

  0.81SAGCX Clearbridge AggressivePairCorr
  0.75SAPCX Clearbridge AppreciationPairCorr
  0.74LGASX Clearbridge Small CapPairCorr
  0.7LGSCX Qs Small CapitalizationPairCorr
  0.56WAHSX Western Asset HighPairCorr
  0.8SBPLX Clearbridge DividendPairCorr
  0.8SBSDX Qs Sp 500PairCorr
  0.73SCSMX Clearbridge Small CapPairCorr
  0.72SBMLX Clearbridge Mid CapPairCorr
  0.72SCHCX Qs Growth FundPairCorr
  0.67SCGCX Qs Moderate GrowthPairCorr
  0.53SCBCX Qs Servative GrowthPairCorr
  0.45WAYRX Western Asset HighPairCorr

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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