Western Asset Correlations

WAUCX Fund  USD 9.20  0.03  0.33%   
The current 90-days correlation between Western Asset Total and Davis Financial Fund is 0.43 (i.e., Very weak 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 Total and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Western Asset Total 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 Total. 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 main economic indicators.

Moving together with Western Mutual Fund

  0.96LGFEX Qs International EquityPairCorr
  0.94LGOCX Legg Mason BwPairCorr
  0.68SSMMX Western Asset ManagedPairCorr
  1.0WAASX Western Asset TotalPairCorr
  0.97WACIX Western Asset EPairCorr
  0.97WACSX Western Asset EPairCorr
  0.95WABCX Western Asset EPairCorr
  0.96WABRX Western Asset EPairCorr
  0.96WABSX Western Asset IntermPairCorr
  0.95WAGIX Western Asset GlobalPairCorr
  0.97SSTLX Western Asset ShortPairCorr
  0.97WAFCX Western Asset InflationPairCorr
  0.97WAFSX Western Asset InflationPairCorr
  0.97WAFRX Western Asset InflationPairCorr
  0.92WAHSX Western Asset HighPairCorr
  0.97WAPCX Western Asset EPairCorr
  0.96WAPIX Western Asset EPairCorr
  0.98WAPSX Western Asset EPairCorr
  0.97WAPRX Western Asset EPairCorr
  0.96SBICX Clearbridge InternationalPairCorr
  0.94SBILX Western Asset PoratePairCorr
  1.0WARIX Western Asset TotalPairCorr
  0.96WATCX Western Asset IntermPairCorr
  0.96WATRX Western Asset IntermPairCorr
  0.97WATPX Western Asset InflationPairCorr
  1.0WAURX Western Asset TotalPairCorr
  0.92WAYRX Western Asset HighPairCorr
  0.62SBYLX Western Asset NewPairCorr
  0.69SCACX Western Asset CaliforniaPairCorr

Moving against Western Mutual Fund

  0.64LGSCX Qs Small CapitalizationPairCorr
  0.53LGASX Clearbridge Small CapPairCorr
  0.41SAGCX Clearbridge AggressivePairCorr
  0.34SAPCX Clearbridge AppreciationPairCorr
  0.53SBMLX Clearbridge Mid CapPairCorr
  0.52LISGX Clearbridge Small CapPairCorr
  0.43SCHCX Qs Growth FundPairCorr
  0.42SBSDX Qs Sp 500PairCorr
  0.42SCSMX Clearbridge Small CapPairCorr
  0.41LLLRX Qs Growth FundPairCorr
  0.37SCGCX Qs Moderate GrowthPairCorr
  0.37LLMRX 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.