Western Asset Correlations

WAPAX Fund  USD 9.29  0.03  0.32%   
The current 90-days correlation between Western Asset E and Jhancock Diversified Macro is -0.08 (i.e., Good 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

Modest diversification

The correlation between Western Asset E and DJI is 0.24 (i.e., Modest 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

  0.9TEBIX Franklin Mutual BeaconPairCorr
  0.62TEDMX Templeton DevelopingPairCorr
  0.83TEDIX Franklin Mutual GlobalPairCorr
  0.78TEDSX Franklin Mutual GlobalPairCorr
  0.82TEDRX Franklin Mutual GlobalPairCorr
  0.78TEFRX Templeton ForeignPairCorr
  0.78TEFTX Templeton ForeignPairCorr
  0.95TEGBX Templeton Global BondPairCorr
  0.8TEGRX Templeton GrowthPairCorr
  0.78TEMFX Templeton ForeignPairCorr
  0.89TEMEX Franklin Mutual BeaconPairCorr
  0.66TEMIX Franklin Mutual EuropeanPairCorr
  0.63TEMWX Templeton WorldPairCorr
  0.63TEMTX Franklin Mutual SharesPairCorr
  0.75TEMQX Mutual QuestPairCorr
  0.86FQCTX Franklin Necticut TaxPairCorr
  0.61SAGYX Clearbridge AggressivePairCorr
  0.81FQCHX Franklin Templeton SmacsPairCorr
  0.78TEQIX Franklin Mutual QuestPairCorr
  0.8TEPLX Templeton GrowthPairCorr
  0.64TESIX Franklin Mutual SharesPairCorr
  0.7TESRX Franklin Mutual SharesPairCorr
  0.76LGGAX Clearbridge InternationalPairCorr
  0.67TEURX Franklin Mutual EuropeanPairCorr
  0.91LGIEX Qs International EquityPairCorr
  0.8FQLAX Franklin Louisiana TaxPairCorr
  0.66SAPYX Clearbridge AppreciationPairCorr
  0.91FQNCX Franklin North CarolinaPairCorr
  0.86FQMDX Franklin Maryland TaxPairCorr
  0.83WAARX Western Asset TotalPairCorr

Moving against Western Mutual Fund

  0.39WAADX Western Asset SmashPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
LIXRXBICPX
MDBLXDIFIX
QDARXJDJRX
DIFIXBICPX
MDBSXBICPX
MDBSXDIFIX
  
High negative correlations   
MDBLXJDJRX
DIFIXJDJRX
QDARXMDBLX

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.