Clearbridge Mid Correlations

SBMLX Fund

USD 20.76 0.06 0.29%

The current 90-days correlation between Clearbridge Mid Cap and Transamerica High Yield is 0.48 (i.e., Very weak diversification). The correlation of Clearbridge Mid 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 Mid Correlation With Market

Poor diversification

The correlation between Clearbridge Mid Cap and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Clearbridge Mid Cap 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 Clearbridge Mid 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 bureau of economic analysis.

Moving together with Clearbridge Mutual Fund

0.95	SAGCX	Clearbridge Aggressive	Pair Corr
0.99	LGASX	Clearbridge Small Cap	Pair Corr
0.94	SAPCX	Clearbridge Appreciation	Pair Corr
0.95	LGSCX	Qs Small Capitalization	Pair Corr
0.62	SBCLX	Qs Defensive Growth	Pair Corr
0.95	SBSDX	Qs Sp 500	Pair Corr
0.81	SCBCX	Qs Servative Growth	Pair Corr
0.79	SCGCX	Qs Moderate Growth	Pair Corr

Moving against Clearbridge Mutual Fund

0.62	WABSX	Western Asset Interm	Pair Corr
0.61	SSTLX	Western Asset Short	Pair Corr
0.61	WATCX	Western Asset Interm	Pair Corr
0.61	WATRX	Western Asset Interm	Pair Corr
0.58	LGOCX	Legg Mason Bw	Pair Corr
0.56	WACSX	Western Asset E	Pair Corr
0.56	WABRX	Western Asset E	Pair Corr
0.56	WAPIX	Western Asset E	Pair Corr
0.55	WABCX	Western Asset E	Pair Corr
0.54	WAPCX	Western Asset E	Pair Corr
0.53	WAASX	Western Asset Total	Pair Corr
0.53	WACIX	Western Asset E	Pair Corr
0.53	WAPRX	Western Asset E	Pair Corr
0.53	SBICX	Clearbridge International	Pair Corr
0.53	WARIX	Western Asset Total	Pair Corr
0.52	WAPSX	Western Asset E	Pair Corr
0.51	SBILX	Western Asset Porate	Pair Corr
0.47	WAFRX	Western Asset Inflation	Pair Corr
0.46	LGFEX	Qs International Equity	Pair Corr
0.46	WAFCX	Western Asset Inflation	Pair Corr
0.46	WAFSX	Western Asset Inflation	Pair Corr
0.35	WAGIX	Western Asset Global	Pair Corr
0.55	LMBSX	Western Asset Mortgage	Pair Corr
0.53	WAUCX	Western Asset Total	Pair Corr
0.53	LIORX	Clearbridge International	Pair Corr
0.52	WAURX	Western Asset Total	Pair Corr
0.51	ARMLX	Western Asset Adjustable	Pair Corr
0.47	WATPX	Western Asset Inflation	Pair Corr
0.46	LIESX	Qs International Equity	Pair Corr
0.44	ARMGX	Western Asset Adjustable	Pair Corr

Related Correlations Analysis

	TAHFX	MRHYX	FYAIX	ARCIX	GHVIX	AGDZX	PHDTX	JCTFX
TAHFX		0.95	0.91	0.71	0.92	0.95	0.89	0.89	TAHFX
MRHYX	0.95		0.96	0.75	0.94	0.92	0.91	0.87	MRHYX
FYAIX	0.91	0.96		0.76	0.96	0.92	0.91	0.85	FYAIX
ARCIX	0.71	0.75	0.76		0.8	0.76	0.76	0.62	ARCIX
GHVIX	0.92	0.94	0.96	0.8		0.96	0.98	0.93	GHVIX
AGDZX	0.95	0.92	0.92	0.76	0.96		0.96	0.94	AGDZX
PHDTX	0.89	0.91	0.91	0.76	0.98	0.96		0.94	PHDTX
JCTFX	0.89	0.87	0.85	0.62	0.93	0.94	0.94		JCTFX
	TAHFX	MRHYX	FYAIX	ARCIX	GHVIX	AGDZX	PHDTX	JCTFX

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Risk-Adjusted Indicators

There is a big difference between Clearbridge Mutual Fund performing well and Clearbridge Mid 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 Mid'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
TAHFX	0.16	0.00	0.23	(0.10)	0.19	(0.22)	0.49	(0.25)	1.24
MRHYX	0.12	0.00	0.28	(0.07)	0.14	(0.17)	0.24	(0.24)	0.95
FYAIX	0.23	0.01	0.21	0.00	0.30	(0.23)	0.43	(0.40)	1.44
ARCIX	0.55	0.11	0.22	(1.92)	0.53	(0.61)	1.22	(1.02)	4.94
GHVIX	0.16	0.01	0.31	0.04	0.16	(0.17)	0.30	(0.35)	1.01
AGDZX	0.14	0.01	0.31	0.04	0.09	(0.24)	0.43	(0.28)	1.01
PHDTX	0.12	0.00	0.27	(0.02)	0.13	(0.15)	0.22	(0.23)	0.79
JCTFX	0.24	0.00	0.13	(0.05)	0.33	(0.30)	0.43	(0.56)	2.30

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