Western Asset Correlations

WAPAX Fund  USD 9.24  0.02  0.22%   
The current 90-days correlation between Western Asset E and Franklin Mutual Global is 0.09 (i.e., Significant 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 E 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 E 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 E. 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 nation.

Moving together with Western Mutual Fund

  0.81TEBIX Franklin Mutual BeaconPairCorr
  0.81TEDMX Templeton DevelopingPairCorr
  0.79TEDIX Franklin Mutual GlobalPairCorr
  0.74TEDSX Franklin Mutual GlobalPairCorr
  0.78TEDRX Franklin Mutual GlobalPairCorr
  0.88TEFRX Templeton ForeignPairCorr
  0.88TEFTX Templeton ForeignPairCorr
  0.94TEGBX Templeton Global BondPairCorr
  0.88TEMFX Templeton ForeignPairCorr
  0.8TEMEX Franklin Mutual BeaconPairCorr
  0.9TEMIX Franklin Mutual EuropeanPairCorr
  0.84TEMQX Mutual QuestPairCorr
  0.7FQCTX Franklin Necticut TaxPairCorr
  0.83FQCHX Franklin Templeton SmacsPairCorr
  0.84TEQIX Franklin Mutual QuestPairCorr
  0.81LGGAX Clearbridge InternationalPairCorr
  0.9TEURX Franklin Mutual EuropeanPairCorr
  0.92LGIEX Qs International EquityPairCorr
  0.75FQLAX Franklin Louisiana TaxPairCorr
  0.71FQNCX Franklin North CarolinaPairCorr
  0.64FQMDX Franklin Maryland TaxPairCorr
  0.96WAARX Western Asset TotalPairCorr

Moving against Western Mutual Fund

  0.31TEMGX Templeton Global SmallerPairCorr
  0.38SAGYX Clearbridge AggressivePairCorr
  0.33TESGX Templeton Global SmallerPairCorr
  0.41SASMX Clearbridge Small CapPairCorr

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.