Western Asset Correlations

Mutual Funds . USA . 
Fund . Western Asset Diversified
XWDIX Fund  USD 15.49  0.03  0.19%   
The current 90-days correlation between Western Asset Diversified and Morningstar Unconstrained Allocation is 0.08 (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 Diversified and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Western Asset Diversified 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 Diversified. 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 gross domestic product.

Moving together with Western Mutual Fund

  0.67JNJ Johnson Johnson Sell-off TrendPairCorr
  0.83KO Coca Cola Aggressive PushPairCorr
  0.86MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr

Moving against Western Mutual Fund

  0.8JPM JPMorgan Chase Sell-off TrendPairCorr
  0.76CSCO Cisco Systems Sell-off TrendPairCorr
  0.75BAC Bank of America Aggressive PushPairCorr
  0.72CVX Chevron Corp Sell-off TrendPairCorr
  0.68AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.67HPQ HP IncPairCorr
  0.65WMT Walmart Aggressive PushPairCorr
  0.64VTSAX Vanguard Total StockPairCorr
  0.64VTSMX Vanguard Total StockPairCorr
  0.64VITSX Vanguard Total StockPairCorr
  0.64VSTSX Vanguard Total StockPairCorr
  0.64VSMPX Vanguard Total StockPairCorr
  0.63VFIAX Vanguard 500 IndexPairCorr
  0.63VFINX Vanguard 500 IndexPairCorr
  0.63VFFSX Vanguard 500 IndexPairCorr
  0.63TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.61AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.6DIS Walt Disney Sell-off TrendPairCorr
  0.54INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.48CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr

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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