Western Asset Correlations

WAADX Fund

USD 6.13 0.02 0.33%

The current 90-days correlation between Western Asset Smash and Fidelity Capital Income is 0.3 (i.e., Weak 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

Weak diversification

The correlation between Western Asset Smash and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Western Asset Smash and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Western Asset Smash. 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 unemployment.

Moving together with Western Mutual Fund

0.82	GAPIX	Goldman Sachs Equity	Pair Corr
0.83	MLMAX	Global E Portfolio	Pair Corr
0.8	AMEIX	Equity Growth	Pair Corr
0.74	AMGIX	Income Growth	Pair Corr
0.66	SAGAX	Ridgeworth Innovative	Pair Corr
0.66	LIGYX	Loomis Sayles Intern	Pair Corr
0.65	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.74	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.77	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.82	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.71	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr

Moving against Western Mutual Fund

0.69	LMSMX	Western Asset Smash	Pair Corr
0.65	BRAMX	Bats Series M	Pair Corr
0.65	PFHCX	Pacific Funds Small	Pair Corr
0.6	LMLCX	Western Asset Smash	Pair Corr
0.56	FXICX	Fixed Income Shares	Pair Corr
0.5	FXIMX	Fixed Income Shares	Pair Corr
0.35	LMECX	Western Asset Smash	Pair Corr
0.62	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.6	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.54	PG	Procter Gamble	Pair Corr
0.52	KO	Coca Cola Sell-off Trend	Pair Corr
0.33	PFE	Pfizer Inc Aggressive Push	Pair Corr

Related Correlations Analysis

	FAGIX	HYMOX	PGHCX	MRHYX	PHDTX	VHYLX	DAHYX
FAGIX		0.37	0.88	0.93	0.95	0.81	0.86	FAGIX
HYMOX	0.37		0.63	0.49	0.56	0.71	0.6	HYMOX
PGHCX	0.88	0.63		0.94	0.95	0.91	0.93	PGHCX
MRHYX	0.93	0.49	0.94		0.97	0.9	0.96	MRHYX
PHDTX	0.95	0.56	0.95	0.97		0.93	0.93	PHDTX
VHYLX	0.81	0.71	0.91	0.9	0.93		0.93	VHYLX
DAHYX	0.86	0.6	0.93	0.96	0.93	0.93		DAHYX
	FAGIX	HYMOX	PGHCX	MRHYX	PHDTX	VHYLX	DAHYX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FAGIX	0.19	0.03	(0.20)	0.22	0.00	(0.26)	0.40	(0.29)	1.17
HYMOX	0.15	0.03	(0.23)	(0.17)	0.19	(0.19)	0.37	(0.27)	1.54
PGHCX	0.13	0.02	(0.32)	0.38	0.00	(0.34)	0.53	(0.26)	0.80
MRHYX	0.09	0.02	(0.63)	0.33	0.00	(0.14)	0.23	(0.12)	0.47
PHDTX	0.09	0.02	(0.60)	0.38	0.00	(0.15)	0.23	(0.11)	0.56
VHYLX	0.12	0.01	(0.50)	0.17	0.00	(0.19)	0.28	(0.14)	0.83
DAHYX	0.11	0.01	(0.62)	0.28	0.00	(0.15)	0.23	(0.23)	0.57

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC