Western Asset Correlations

SBILX Fund  USD 10.53  0.02  0.19%   
The current 90-days correlation between Western Asset Porate and Goldman Sachs Government is 0.96 (i.e., Almost no 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

Average diversification

The correlation between Western Asset Porate and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Western Asset Porate and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Western Asset Porate. 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 bureau of economic analysis.

Moving together with Western Mutual Fund

  0.89LGFEX Qs International EquityPairCorr
  0.91LGOCX Legg Mason BwPairCorr
  0.83SSMMX Western Asset ManagedPairCorr
  0.92WAASX Western Asset TotalPairCorr
  0.99WACIX Western Asset EPairCorr
  0.99WACSX Western Asset EPairCorr
  1.0WABCX Western Asset EPairCorr
  0.99WABRX Western Asset EPairCorr
  0.95WABSX Western Asset IntermPairCorr
  0.9WAGIX Western Asset GlobalPairCorr
  0.9SSTLX Western Asset ShortPairCorr
  0.97WAFCX Western Asset InflationPairCorr
  0.97WAFSX Western Asset InflationPairCorr
  0.97WAFRX Western Asset InflationPairCorr
  0.86WAHSX Western Asset HighPairCorr
  0.99WAPCX Western Asset EPairCorr
  0.99WAPIX Western Asset EPairCorr
  0.99WAPSX Western Asset EPairCorr
  0.99WAPRX Western Asset EPairCorr
  0.87SBICX Clearbridge InternationalPairCorr
  0.92WARIX Western Asset TotalPairCorr
  0.95WATCX Western Asset IntermPairCorr
  0.96WATRX Western Asset IntermPairCorr
  0.97WATPX Western Asset InflationPairCorr
  0.93WAUCX Western Asset TotalPairCorr
  0.92WAURX Western Asset TotalPairCorr
  0.88WAYRX Western Asset HighPairCorr
  0.78SBYLX Western Asset NewPairCorr
  0.85SCACX Western Asset CaliforniaPairCorr

Moving against Western Mutual Fund

  0.51LGSCX Qs Small CapitalizationPairCorr
  0.45LGASX Clearbridge Small CapPairCorr
  0.36SAGCX Clearbridge AggressivePairCorr
  0.51LMBMX Qs Small CapitalizationPairCorr
  0.48SBMLX Clearbridge Mid CapPairCorr
  0.46LMASX Clearbridge Small CapPairCorr
  0.46LMARX Clearbridge Small CapPairCorr
  0.45LISGX Clearbridge Small CapPairCorr
  0.39SCSMX Clearbridge Small CapPairCorr
  0.34SBSDX Qs Sp 500PairCorr

Related Correlations Analysis

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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.