Clearbridge Small Correlations

LMNSX Fund

USD 64.77 0.40 0.61%

The current 90-days correlation between Clearbridge Small Cap and Summit Global Investments is 0.03 (i.e., Significant 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

Good diversification

The correlation between Clearbridge Small Cap and DJI is -0.06 (i.e., Good 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 state.

Moving together with Clearbridge Mutual Fund

0.94	TEMGX	Templeton Global Smaller	Pair Corr
0.96	SAGYX	Clearbridge Aggressive	Pair Corr
0.69	TWDAX	Templeton World	Pair Corr
0.94	TESGX	Templeton Global Smaller	Pair Corr
0.72	TEWTX	Templeton World	Pair Corr
0.94	SAPYX	Clearbridge Appreciation	Pair Corr
0.98	SASMX	Clearbridge Small Cap	Pair Corr

Moving against Clearbridge Mutual Fund

0.48	TEDIX	Franklin Mutual Global	Pair Corr
0.48	TEDSX	Franklin Mutual Global	Pair Corr
0.48	TEDRX	Franklin Mutual Global	Pair Corr
0.48	TEGBX	Templeton Global Bond	Pair Corr
0.43	TEFTX	Templeton Foreign	Pair Corr
0.43	TEMFX	Templeton Foreign	Pair Corr
0.42	TEFRX	Templeton Foreign	Pair Corr
0.38	TEMIX	Franklin Mutual European	Pair Corr
0.35	TEDMX	Templeton Developing	Pair Corr
0.52	LGIEX	Qs International Equity	Pair Corr
0.38	TEURX	Franklin Mutual European	Pair Corr
0.37	FQCHX	Franklin Templeton Smacs	Pair Corr
0.59	WABAX	Western Asset E	Pair Corr
0.56	WAARX	Western Asset Total	Pair Corr
0.55	TFFAX	Templeton Foreign	Pair Corr
0.51	TFESX	International Equity	Pair Corr
0.51	TFEQX	International Equity	Pair Corr
0.47	WACPX	Western Asset E	Pair Corr

Related Correlations Analysis

	SGICX	MSTGX	LMLRX	DBIWX	TACLX	MGGNX	GARGX	PHTTX
SGICX		-0.13	0.29	0.0	0.21	0.42	0.25	0.32	SGICX
MSTGX	-0.13		0.55	0.95	0.67	0.35	0.76	0.69	MSTGX
LMLRX	0.29	0.55		0.74	0.93	0.6	0.84	0.97	LMLRX
DBIWX	0.0	0.95	0.74		0.8	0.43	0.83	0.83	DBIWX
TACLX	0.21	0.67	0.93	0.8		0.6	0.9	0.95	TACLX
MGGNX	0.42	0.35	0.6	0.43	0.6		0.7	0.64	MGGNX
GARGX	0.25	0.76	0.84	0.83	0.9	0.7		0.92	GARGX
PHTTX	0.32	0.69	0.97	0.83	0.95	0.64	0.92		PHTTX
	SGICX	MSTGX	LMLRX	DBIWX	TACLX	MGGNX	GARGX	PHTTX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

PHTTX	+ 0.97	LMLRX
DBIWX	+ 0.95	MSTGX
PHTTX	+ 0.95	TACLX
TACLX	+ 0.93	LMLRX
PHTTX	+ 0.92	GARGX
GARGX	+ 0.9	TACLX

High negative correlations

MSTGX	- 0.13	SGICX
DBIWX	- 0.0	SGICX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SGICX	0.91	(0.34)	0.00	(2.47)	0.00	0.00	1.09	(1.37)	19.11
MSTGX	0.31	0.07	0.23	0.14	0.34	(0.34)	0.74	(0.62)	1.58
LMLRX	0.33	0.01	0.00	(0.05)	0.00	0.00	0.61	(0.69)	2.17
DBIWX	0.26	0.03	0.19	0.07	0.32	(0.28)	0.48	(0.58)	1.77
TACLX	0.65	0.01	0.00	(0.06)	0.00	0.00	1.26	(1.48)	3.10
MGGNX	0.20	(0.02)	0.00	(0.57)	0.00	0.00	0.35	(0.35)	1.96
GARGX	0.79	0.01	0.00	(0.06)	0.00	0.00	1.37	(1.79)	4.42
PHTTX	0.35	0.00	0.00	(0.07)	0.00	0.00	0.67	(0.67)	1.95

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