Clearbridge Small Correlations

Mutual Funds . USA . 
Fund . Clearbridge Small Cap
LISGX Fund  USD 78.42  0.12  0.15%   
The current 90-days correlation between Clearbridge Small Cap and Enhanced Large Pany is 0.66 (i.e., Poor diversification). The correlation of Clearbridge Small 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 Small Correlation With Market

Very poor diversification

The correlation between Clearbridge Small Cap and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Clearbridge Small Cap 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 Clearbridge Small Cap. 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 price.

Moving together with Clearbridge Mutual Fund

  0.95SAGCX Clearbridge AggressivePairCorr
  1.0LGASX Clearbridge Small CapPairCorr
  0.94SAPCX Clearbridge AppreciationPairCorr
  0.98LGSCX Qs Small CapitalizationPairCorr
  0.64SBCLX Qs Defensive GrowthPairCorr
  0.68WAHSX Western Asset HighPairCorr
  0.96SBMLX Clearbridge Mid CapPairCorr
  0.92SBPLX Clearbridge DividendPairCorr
  0.65WAYRX Western Asset HighPairCorr
  0.86SCBCX Qs Servative GrowthPairCorr
  0.91SCGCX Qs Moderate GrowthPairCorr
  0.92SCHCX Qs Growth FundPairCorr
  0.99SCSMX Clearbridge Small CapPairCorr

Moving against Clearbridge Mutual Fund

  0.76LGOCX Legg Mason BwPairCorr
  0.73WABRX Western Asset EPairCorr
  0.72WABCX Western Asset EPairCorr
  0.72WAPIX Western Asset EPairCorr
  0.71WACSX Western Asset EPairCorr
  0.69WABSX Western Asset IntermPairCorr
  0.67WAPCX Western Asset EPairCorr
  0.66WACIX Western Asset EPairCorr
  0.66WAFCX Western Asset InflationPairCorr
  0.66WAPSX Western Asset EPairCorr
  0.65WAFRX Western Asset InflationPairCorr
  0.63WAFSX Western Asset InflationPairCorr
  0.62LGFEX Qs International EquityPairCorr
  0.5SSTLX Western Asset ShortPairCorr
  0.31WAASX Western Asset TotalPairCorr
  0.71WATCX Western Asset IntermPairCorr
  0.7WATRX Western Asset IntermPairCorr
  0.67WAPRX Western Asset EPairCorr
  0.65SBICX Clearbridge InternationalPairCorr
  0.65LIORX Clearbridge InternationalPairCorr
  0.63SBILX Western Asset PoratePairCorr
  0.63WATPX Western Asset InflationPairCorr
  0.42SCACX Western Asset CaliforniaPairCorr
  0.4WAUCX Western Asset TotalPairCorr
  0.33WARIX Western Asset TotalPairCorr
  0.33SBYLX Western Asset NewPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Clearbridge Mutual Fund performing well and Clearbridge Small 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 Small'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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