Western Asset Correlations

Mutual Funds . USA . 
Fund . Western Asset New
SBYLX Fund  USD 11.87  0.03  0.25%   
The current 90-days correlation between Western Asset New and International Investors Gold is 0.18 (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 0.16 (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

  0.79SAGCX Clearbridge AggressivePairCorr
  0.84LGASX Clearbridge Small CapPairCorr
  0.76LGFEX Qs International EquityPairCorr
  0.85SAPCX Clearbridge AppreciationPairCorr
  0.89LGOCX Legg Mason BwPairCorr
  0.99SSMMX Western Asset ManagedPairCorr
  0.85LGSCX Qs Small CapitalizationPairCorr
  0.9WACIX Western Asset EPairCorr
  0.87WACSX Western Asset EPairCorr
  0.91WABCX Western Asset EPairCorr
  0.89WABRX Western Asset EPairCorr
  0.63WABSX Western Asset IntermPairCorr
  0.81WAFCX Western Asset InflationPairCorr
  0.78WAFSX Western Asset InflationPairCorr
  0.8WAFRX Western Asset InflationPairCorr
  0.75SBCLX Qs Defensive GrowthPairCorr
  0.91WAPCX Western Asset EPairCorr
  0.88WAPIX Western Asset EPairCorr
  0.92WAPSX Western Asset EPairCorr
  0.93WAPRX Western Asset EPairCorr
  0.94SBILX Western Asset PoratePairCorr
  0.72WATCX Western Asset IntermPairCorr
  0.7WATRX Western Asset IntermPairCorr
  0.78WATPX Western Asset InflationPairCorr
  0.8SBMLX Clearbridge Mid CapPairCorr
  0.8SBPLX Clearbridge DividendPairCorr
  0.99SCACX Western Asset CaliforniaPairCorr
  0.72SCBCX Qs Servative GrowthPairCorr
  0.8SCGCX Qs Moderate GrowthPairCorr
  0.74SCHCX Qs Growth FundPairCorr

Moving against Western Mutual Fund

  0.34ARMGX Western Asset AdjustablePairCorr

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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