Clearbridge Small Correlations

LMPOX Fund

USD 37.43 0.47 1.27%

The current 90-days correlation between Clearbridge Small Cap and Artisan Select Equity is 0.81 (i.e., Very 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

Average diversification

The correlation between Clearbridge Small Cap and DJI is 0.19 (i.e., Average 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 persons.

Moving together with Clearbridge Mutual Fund

0.95	LGASX	Clearbridge Small Cap	Pair Corr
0.96	SAPCX	Clearbridge Appreciation	Pair Corr
0.94	LGSCX	Qs Small Capitalization	Pair Corr
0.73	SBCLX	Qs Defensive Growth	Pair Corr
0.81	WAHSX	Western Asset High	Pair Corr
0.99	SBMLX	Clearbridge Mid Cap	Pair Corr
0.92	SBPLX	Clearbridge Dividend	Pair Corr
0.95	SBSDX	Qs Sp 500	Pair Corr
0.75	WAYRX	Western Asset High	Pair Corr
0.91	SCBCX	Qs Servative Growth	Pair Corr
0.94	SCGCX	Qs Moderate Growth	Pair Corr

Moving against Clearbridge Mutual Fund

0.73	LGOCX	Legg Mason Bw	Pair Corr
0.65	WABRX	Western Asset E	Pair Corr
0.63	WABCX	Western Asset E	Pair Corr
0.63	WAPIX	Western Asset E	Pair Corr
0.59	WAFCX	Western Asset Inflation	Pair Corr
0.56	WACSX	Western Asset E	Pair Corr
0.56	WAFRX	Western Asset Inflation	Pair Corr
0.55	LGFEX	Qs International Equity	Pair Corr
0.54	WAFSX	Western Asset Inflation	Pair Corr
0.54	WAPRX	Western Asset E	Pair Corr
0.51	WACIX	Western Asset E	Pair Corr
0.48	WAPCX	Western Asset E	Pair Corr
0.47	WABSX	Western Asset Interm	Pair Corr
0.44	WAPSX	Western Asset E	Pair Corr
0.7	SBICX	Clearbridge International	Pair Corr
0.69	LIORX	Clearbridge International	Pair Corr
0.57	LIESX	Qs International Equity	Pair Corr
0.56	WATRX	Western Asset Interm	Pair Corr
0.55	WATPX	Western Asset Inflation	Pair Corr
0.54	WATCX	Western Asset Interm	Pair Corr
0.49	SBILX	Western Asset Porate	Pair Corr

Related Correlations Analysis

	APDNX	SRFMX	LOGRX	DFVEX	NIEYX
APDNX		0.82	0.92	0.92	-0.53	APDNX
SRFMX	0.82		0.78	0.88	-0.47	SRFMX
LOGRX	0.92	0.78		0.9	-0.62	LOGRX
DFVEX	0.92	0.88	0.9		-0.69	DFVEX
NIEYX	-0.53	-0.47	-0.62	-0.69		NIEYX
	APDNX	SRFMX	LOGRX	DFVEX	NIEYX

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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

LOGRX	+ 0.92	APDNX
DFVEX	+ 0.92	APDNX
DFVEX	+ 0.9	LOGRX
DFVEX	+ 0.88	SRFMX
SRFMX	+ 0.82	APDNX
LOGRX	+ 0.78	SRFMX

High negative correlations

NIEYX	- 0.69	DFVEX
NIEYX	- 0.62	LOGRX
NIEYX	- 0.53	APDNX
NIEYX	- 0.47	SRFMX

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
APDNX	0.51	0.09	(0.02)	4.14	0.36	(0.66)	1.24	(0.83)	3.60
SRFMX	0.46	(0.01)	(0.07)	0.08	0.55	(0.52)	0.91	(1.08)	3.50
LOGRX	0.46	0.03	(0.14)	0.43	0.39	(0.53)	0.86	(0.74)	3.02
DFVEX	0.57	0.05	0.08	0.15	0.33	(0.71)	1.41	(0.88)	5.26
NIEYX	0.66	(0.02)	0.00	3.91	0.00	0.00	1.12	(1.34)	4.25

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