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.
Western |
Moving together with Western Mutual Fund
0.81 | TEBIX | Franklin Mutual Beacon | PairCorr |
0.81 | TEDMX | Templeton Developing | PairCorr |
0.79 | TEDIX | Franklin Mutual Global | PairCorr |
0.74 | TEDSX | Franklin Mutual Global | PairCorr |
0.78 | TEDRX | Franklin Mutual Global | PairCorr |
0.88 | TEFRX | Templeton Foreign | PairCorr |
0.88 | TEFTX | Templeton Foreign | PairCorr |
0.94 | TEGBX | Templeton Global Bond | PairCorr |
0.88 | TEMFX | Templeton Foreign | PairCorr |
0.8 | TEMEX | Franklin Mutual Beacon | PairCorr |
0.9 | TEMIX | Franklin Mutual European | PairCorr |
0.84 | TEMQX | Mutual Quest | PairCorr |
0.7 | FQCTX | Franklin Necticut Tax | PairCorr |
0.83 | FQCHX | Franklin Templeton Smacs | PairCorr |
0.84 | TEQIX | Franklin Mutual Quest | PairCorr |
0.81 | LGGAX | Clearbridge International | PairCorr |
0.9 | TEURX | Franklin Mutual European | PairCorr |
0.92 | LGIEX | Qs International Equity | PairCorr |
0.75 | FQLAX | Franklin Louisiana Tax | PairCorr |
0.71 | FQNCX | Franklin North Carolina | PairCorr |
0.64 | FQMDX | Franklin Maryland Tax | PairCorr |
0.96 | WAARX | Western Asset Total | PairCorr |
Moving against Western Mutual Fund
0.31 | TEMGX | Templeton Global Smaller | PairCorr |
0.38 | SAGYX | Clearbridge Aggressive | PairCorr |
0.33 | TESGX | Templeton Global Smaller | PairCorr |
0.41 | SASMX | Clearbridge Small Cap | PairCorr |
Related Correlations Analysis
0.82 | 0.79 | 0.82 | 0.71 | 0.69 | TEDIX | ||
0.82 | 0.95 | 0.74 | 0.87 | 0.7 | DLGBX | ||
0.79 | 0.95 | 0.79 | 0.95 | 0.82 | PRSAX | ||
0.82 | 0.74 | 0.79 | 0.83 | 0.89 | WRLDX | ||
0.71 | 0.87 | 0.95 | 0.83 | 0.9 | MFIRX | ||
0.69 | 0.7 | 0.82 | 0.89 | 0.9 | RGHYX | ||
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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.Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
---|---|---|---|---|---|---|---|---|---|---|
TEDIX | 0.66 | 0.01 | 0.00 | (0.05) | 0.00 | 1.01 | 7.35 | |||
DLGBX | 0.23 | 0.01 | 0.25 | 0.17 | 0.23 | 0.49 | 1.23 | |||
PRSAX | 0.15 | 0.00 | 0.39 | 0.07 | 0.10 | 0.40 | 0.81 | |||
WRLDX | 0.64 | (0.02) | 0.00 | 0.10 | 0.00 | 1.24 | 2.96 | |||
MFIRX | 0.11 | 0.01 | 0.31 | 0.72 | 0.00 | 0.19 | 0.77 | |||
RGHYX | 0.13 | 0.01 | 0.32 | (0.01) | 0.13 | 0.20 | 1.13 |