Western Asset Correlations

Mutual Funds . USA . 
Fund . Western Asset Intermediate
WATRX Fund  USD 9.68  0.02  0.21%   
The current 90-days correlation between Western Asset Interm and Us Government Securities is 0.03 (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

Significant diversification

The correlation between Western Asset Intermediate and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Western Asset Intermediate 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 Intermediate. 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 metropolitan statistical area.

Moving together with Western Mutual Fund

  0.85LGFEX Qs International EquityPairCorr
  0.8LGOCX Legg Mason BwPairCorr
  0.91WAASX Western Asset TotalPairCorr
  0.83WACIX Western Asset EPairCorr
  0.84WACSX Western Asset EPairCorr
  0.85WABCX Western Asset EPairCorr
  0.85WABRX Western Asset EPairCorr
  0.96WABSX Western Asset IntermPairCorr
  0.88WAGIX Western Asset GlobalPairCorr
  0.96SSTLX Western Asset ShortPairCorr
  0.92WAFCX Western Asset InflationPairCorr
  0.89WAFSX Western Asset InflationPairCorr
  0.92WAFRX Western Asset InflationPairCorr
  0.63WAHSX Western Asset HighPairCorr
  0.98WAPCX Western Asset EPairCorr
  0.95WAPIX Western Asset EPairCorr
  0.94WAPSX Western Asset EPairCorr
  0.95WAPRX Western Asset EPairCorr
  0.88SBICX Clearbridge InternationalPairCorr
  0.85SBILX Western Asset PoratePairCorr
  0.91WARIX Western Asset TotalPairCorr
  0.95WATCX Western Asset IntermPairCorr
  0.92WATPX Western Asset InflationPairCorr
  0.96WAUCX Western Asset TotalPairCorr
  0.92WAURX Western Asset TotalPairCorr
  0.65WAYRX Western Asset HighPairCorr
  0.61SCACX Western Asset CaliforniaPairCorr

Moving against Western Mutual Fund

  0.68LGSCX Qs Small CapitalizationPairCorr
  0.65LGASX Clearbridge Small CapPairCorr
  0.56SAGCX Clearbridge AggressivePairCorr
  0.48SAPCX Clearbridge AppreciationPairCorr
  0.71SBMLX Clearbridge Mid CapPairCorr
  0.71LMBMX Qs Small CapitalizationPairCorr
  0.63LISGX Clearbridge Small CapPairCorr
  0.52SBSDX Qs Sp 500PairCorr
  0.48SCHCX Qs Growth FundPairCorr
  0.36LLLRX Qs Growth FundPairCorr
  0.31SCGCX Qs Moderate GrowthPairCorr

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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