Legg Mason Correlations

Funds . USA . 
Fund . Legg Mason Partners
QLMSTX Fund  USD 24.99  0.63  2.59%   
The current 90-days correlation between Legg Mason Partners and Inflation Linked Fixed Income is 0.03 (i.e., Significant 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

Poor diversification

The correlation between Legg Mason Partners and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Legg Mason Partners and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Legg Mason Partners. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Legg Fund

  0.96VTSAX Vanguard Total StockPairCorr
  0.94VFIAX Vanguard 500 IndexPairCorr
  0.96VTSMX Vanguard Total StockPairCorr
  0.96VITSX Vanguard Total StockPairCorr
  0.96VSTSX Vanguard Total StockPairCorr
  0.96VSMPX Vanguard Total StockPairCorr
  0.94VFINX Vanguard 500 IndexPairCorr
  0.94VFFSX Vanguard 500 IndexPairCorr
  0.67FTYPX Fidelity Freedom IndexPairCorr
  0.66FFBTX Fidelity Freedom BlendPairCorr
  0.93GCAVX Gmo Small CapPairCorr
  0.7GQLOX Gmo Quality FundPairCorr
  0.96GMCQX Gmo Equity AllocationPairCorr
  0.7DIS Walt DisneyPairCorr
  0.78JPM JPMorgan ChasePairCorr
  0.94AXP American ExpressPairCorr
  0.63MSFT Microsoft Aggressive PushPairCorr
  0.74HPQ HP IncPairCorr
  0.78WMT WalmartPairCorr

Moving against Legg Fund

  0.79GAAVX Gmo Alternative AlloPairCorr
  0.57GABFX Gmo Asset AllocationPairCorr
  0.61TRV The Travelers CompaniesPairCorr
  0.6VZ Verizon CommunicationsPairCorr
  0.49JNJ Johnson Johnson Sell-off TrendPairCorr
  0.38T ATT Inc Sell-off TrendPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Legg Fund performing well and Legg Mason 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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