Legg Mason Correlations

Mutual Funds . USA . 
Fund . Legg Mason Bw
LAOCX Fund  USD 10.94  0.03  0.27%   
The current 90-days correlation between Legg Mason Bw and Towpath Technology is 0.55 (i.e., Very weak 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

Weak diversification

The correlation between Legg Mason Bw and DJI is 0.3 (i.e., Weak 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 Correlation 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 main economic indicators.

Moving together with Legg Mutual Fund

  0.89LGFEX Qs International EquityPairCorr
  0.78LGOCX Legg Mason BwPairCorr
  0.89WAASX Western Asset TotalPairCorr
  0.75WACIX Western Asset EPairCorr
  0.78WACSX Western Asset EPairCorr
  0.75WABCX Western Asset EPairCorr
  0.7WABRX Western Asset EPairCorr
  0.81WABSX Western Asset IntermPairCorr
  0.85SSTLX Western Asset ShortPairCorr
  0.83WAFCX Western Asset InflationPairCorr
  0.87WAHSX Western Asset HighPairCorr
  0.77WAPCX Western Asset EPairCorr
  0.77WAPIX Western Asset EPairCorr
  0.81WAPSX Western Asset EPairCorr
  0.9SBICX Clearbridge InternationalPairCorr
  0.72SBILX Western Asset PoratePairCorr
  0.79WATCX Western Asset IntermPairCorr
  0.8WATRX Western Asset IntermPairCorr
  0.91WAUCX Western Asset TotalPairCorr
  0.92WAURX Western Asset TotalPairCorr
  0.86WAYRX Western Asset HighPairCorr
  0.85LIESX Qs International EquityPairCorr
  0.93LIORX Clearbridge InternationalPairCorr
  0.87SDSIX Western Asset GlobalPairCorr
  0.9ARMLX Western Asset AdjustablePairCorr
  0.9ARMGX Western Asset AdjustablePairCorr

Moving against Legg Mutual Fund

  0.49LGSCX Qs Small CapitalizationPairCorr
  0.33LGASX Clearbridge Small CapPairCorr
  0.31SBMLX Clearbridge Mid CapPairCorr
  0.47LMBMX Qs Small CapitalizationPairCorr
  0.33LLLRX Qs Growth FundPairCorr
  0.33LMARX Clearbridge Small CapPairCorr
  0.32LISGX Clearbridge Small CapPairCorr
  0.31LLMRX Qs Moderate GrowthPairCorr

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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