Western Asset Correlations

Mutual Funds . USA . 
Fund . Western Asset High
WAHSX Fund  USD 7.02  0.01  0.14%   
The current 90-days correlation between Western Asset High and Baird Quality Intermediate is 0.25 (i.e., Modest 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 High and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Western Asset High 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 High. 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 state.

Moving together with Western Mutual Fund

  0.84WACIX Western Asset EPairCorr
  0.83WACSX Western Asset EPairCorr
  0.89WABRX Western Asset EPairCorr
  0.87WABSX Western Asset IntermPairCorr
  0.89WAPIX Western Asset EPairCorr
  0.85WAPSX Western Asset EPairCorr
  0.91WAPRX Western Asset EPairCorr
  0.91WARIX Western Asset TotalPairCorr
  0.86WATCX Western Asset IntermPairCorr
  0.87WATRX Western Asset IntermPairCorr
  0.91WAURX Western Asset TotalPairCorr
  0.83WAYRX Western Asset HighPairCorr
  0.82SCACX Western Asset CaliforniaPairCorr
  0.99SDSIX Western Asset GlobalPairCorr
  0.92ARMLX Western Asset AdjustablePairCorr
  0.92LMBSX Western Asset MortgagePairCorr
  0.87LMAOX Legg Mason BwPairCorr
  0.85LMAQX Legg Mason BwPairCorr
  0.95LMECX Western Asset SmashPairCorr
  0.92SGVSX Western Asset MortgagePairCorr

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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