Western Asset Correlations

Mutual Funds . USA . 
Fund . Western Asset Short
CIABX Fund  USD 5.04  0.00  0.00%   
The current 90-days correlation between Western Asset Short and Virtus Multi Sector Short is 0.46 (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

Good diversification

The correlation between Western Asset Short and DJI is -0.05 (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

  0.91TEBIX Franklin Mutual BeaconPairCorr
  0.95TEDMX Templeton DevelopingPairCorr
  0.9TEDIX Franklin Mutual GlobalPairCorr
  0.9TEDSX Franklin Mutual GlobalPairCorr
  0.9TEDRX Franklin Mutual GlobalPairCorr
  0.91TEFRX Templeton ForeignPairCorr
  0.91TEMFX Templeton ForeignPairCorr
  0.9TEMGX Templeton Global SmallerPairCorr
  0.91TEMEX Franklin Mutual BeaconPairCorr
  0.91TEMMX Templeton EmergingPairCorr
  0.9TEMIX Franklin Mutual EuropeanPairCorr
  0.95TEMWX Templeton WorldPairCorr
  0.93TEMQX Mutual QuestPairCorr
  0.91SAIFX Clearbridge Large CapPairCorr
  0.9SAGYX Clearbridge AggressivePairCorr
  0.91TEMZX Templeton EmergingPairCorr
  0.94TEPLX Templeton GrowthPairCorr
  0.95TWDAX Templeton WorldPairCorr
  0.93TESIX Franklin Mutual SharesPairCorr
  0.8LGGAX Clearbridge InternationalPairCorr
  0.89TEURX Franklin Mutual EuropeanPairCorr
  0.85LGIEX Qs International EquityPairCorr
  0.95TEWTX Templeton WorldPairCorr
  0.92WAARX Western Asset TotalPairCorr
  0.93FQTIX Franklin Strategic SeriesPairCorr
  0.82WAFAX Western Asset InflationPairCorr
  0.98SBAYX Western Asset AdjustablePairCorr
  0.92SBBAX Qs Servative GrowthPairCorr
  0.97WAHYX Western Asset HighPairCorr
  0.89FRAAX Franklin Growth OppoPairCorr
  0.75FRBRX Franklin Biotechnology Steady GrowthPairCorr
  0.9SBIYX Clearbridge InternationalPairCorr
  0.94FRDPX Franklin Rising DividendsPairCorr
  0.62FREEX Franklin Real EstatePairCorr
  0.96FREIX Franklin Equity IncomePairCorr
  0.83SBLGX Clearbridge Large CapPairCorr
  0.7SBLTX Western Asset IntermPairCorr

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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