Western Asset Correlations

Mutual Funds . USA . 
Fund . Western Asset Smash
LMLCX Fund  USD 8.85  0.04  0.45%   
The current 90-days correlation between Western Asset Smash and Davis Financial Fund is 0.36 (i.e., Weak diversification). The correlation of Western Asset 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.

Western Asset Correlation With Market

Modest diversification

The correlation between Western Asset Smash and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Western Asset Smash 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 Western Asset Smash. 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 Western Mutual Fund

  0.83LGFEX Qs International EquityPairCorr
  0.86LGOCX Legg Mason BwPairCorr
  0.86SSMMX Western Asset ManagedPairCorr
  0.85WAASX Western Asset TotalPairCorr
  0.92WACIX Western Asset EPairCorr
  0.92WACSX Western Asset EPairCorr
  0.94WABCX Western Asset EPairCorr
  0.93WABRX Western Asset EPairCorr
  0.84WABSX Western Asset IntermPairCorr
  0.86WAGIX Western Asset GlobalPairCorr
  0.79SSTLX Western Asset ShortPairCorr
  0.92WAFCX Western Asset InflationPairCorr
  0.91WAFSX Western Asset InflationPairCorr
  0.92WAFRX Western Asset InflationPairCorr
  0.82WAHSX Western Asset HighPairCorr
  0.93WAPCX Western Asset EPairCorr
  0.92WAPIX Western Asset EPairCorr
  0.92WAPSX Western Asset EPairCorr
  0.93WAPRX Western Asset EPairCorr
  0.78SBICX Clearbridge InternationalPairCorr
  0.96SBILX Western Asset PoratePairCorr
  0.85WARIX Western Asset TotalPairCorr
  0.84WATCX Western Asset IntermPairCorr
  0.86WATRX Western Asset IntermPairCorr
  0.92WATPX Western Asset InflationPairCorr
  0.86WAUCX Western Asset TotalPairCorr
  0.84WAURX Western Asset TotalPairCorr
  0.84WAYRX Western Asset HighPairCorr
  0.83SBYLX Western Asset NewPairCorr
  0.87SCACX Western Asset CaliforniaPairCorr

Moving against Western Mutual Fund

  0.36LGSCX Qs Small CapitalizationPairCorr
  0.36LMBMX Qs Small CapitalizationPairCorr
  0.32SBMLX Clearbridge Mid CapPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Western Mutual Fund performing well and Western Asset 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 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.

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