Western Asset Correlations

Mutual Funds . USA . 
Fund . Western Asset Short
CIABX Fund  USD 5.08  0.00  0.00%   
The current 90-days correlation between Western Asset Short and Qs Moderate Growth is -0.13 (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

Good diversification

The correlation between Western Asset Short and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Western Asset Short and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Western Asset Short. 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 bureau of labor statistics.

Moving together with Western Mutual Fund

  0.7TEBIX Franklin Mutual BeaconPairCorr
  0.81TEDMX Templeton DevelopingPairCorr
  0.72TEDIX Franklin Mutual GlobalPairCorr
  0.71TEDSX Franklin Mutual GlobalPairCorr
  0.72TEDRX Franklin Mutual GlobalPairCorr
  0.88TEGBX Templeton Global BondPairCorr
  0.72TEGRX Templeton GrowthPairCorr
  0.69TEMEX Franklin Mutual BeaconPairCorr
  0.84TEMIX Franklin Mutual EuropeanPairCorr
  0.74TEMWX Templeton WorldPairCorr
  0.74TEMQX Mutual QuestPairCorr
  0.91FQCTX Franklin Necticut TaxPairCorr
  0.82SAIFX Clearbridge Large CapPairCorr
  0.79SAGYX Clearbridge AggressivePairCorr
  0.89FQCHX Franklin Templeton SmacsPairCorr
  0.77FQEMX Franklin Templeton Smacs Steady GrowthPairCorr
  0.75TEQIX Franklin Mutual QuestPairCorr
  0.73TEPLX Templeton GrowthPairCorr
  0.74TWDAX Templeton WorldPairCorr
  0.75LGGAX Clearbridge InternationalPairCorr
  0.83TEURX Franklin Mutual EuropeanPairCorr
  0.81LGIEX Qs International EquityPairCorr
  0.9FQLAX Franklin Louisiana TaxPairCorr
  0.73TEWTX Templeton WorldPairCorr
  0.85SAPYX Clearbridge AppreciationPairCorr
  0.89SASMX Clearbridge Small CapPairCorr
  0.9FQNCX Franklin North CarolinaPairCorr
  0.9FQMDX Franklin Maryland TaxPairCorr
  0.95WAARX Western Asset TotalPairCorr

Related Correlations Analysis


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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