Western Asset Correlations

Mutual Funds . USA . 
Fund . Western Asset New
SBYLX Fund  USD 11.81  0.01  0.08%   
The current 90-days correlation between Western Asset New and Wabmsx is 0.16 (i.e., Average 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 New and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Western Asset New 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 New. 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

  0.99SSMMX Western Asset ManagedPairCorr
  0.61WAASX Western Asset TotalPairCorr
  0.73WACIX Western Asset EPairCorr
  0.72WACSX Western Asset EPairCorr
  0.74WABCX Western Asset EPairCorr
  0.72WABRX Western Asset EPairCorr
  0.63WABSX Western Asset IntermPairCorr
  0.76WAGIX Western Asset GlobalPairCorr
  0.71WAFCX Western Asset InflationPairCorr
  0.7WAFSX Western Asset InflationPairCorr
  0.72WAFRX Western Asset InflationPairCorr
  0.74WAHSX Western Asset HighPairCorr
  0.73WAPCX Western Asset EPairCorr
  0.72WAPIX Western Asset EPairCorr
  0.73WAPSX Western Asset EPairCorr
  0.73WAPRX Western Asset EPairCorr
  0.77SBILX Western Asset PoratePairCorr
  0.61WARIX Western Asset TotalPairCorr
  0.65WATCX Western Asset IntermPairCorr
  0.65WATRX Western Asset IntermPairCorr
  0.71WATPX Western Asset InflationPairCorr
  0.62WAUCX Western Asset TotalPairCorr
  0.61WAURX Western Asset TotalPairCorr
  0.75WAYRX Western Asset HighPairCorr
  0.97SCACX Western Asset CaliforniaPairCorr

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.

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