Western Asset Correlations

Funds . USA . 
Fund . Western Asset High
HIX Fund  USD 4.27  0.07  1.61%   
The current 90-days correlation between Western Asset High and Western Asset Global is 0.1 (i.e., Average 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

Very weak diversification

The correlation between Western Asset High and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Western Asset High and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Western Asset High. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Western Fund

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  0.71RYMJX Commodities StrategyPairCorr
  0.72RYMBX Commodities StrategyPairCorr
  0.86BRUFX Bruce Fund BrucePairCorr
  0.95SPGSX State Street PremierPairCorr
  0.96KF Korea ClosedPairCorr
  0.68DHMYX Diamond Hill SmallPairCorr
  0.96TEMVX Tiaa Cref EmergingPairCorr
  0.93SIGAX Western Asset PoratePairCorr
  0.96HGOTX Hartford Growth OppoPairCorr
  0.71GCSSX Goldman Sachs SmallPairCorr
  0.8DLEUX Doubleline ShillerPairCorr
  0.96VIVAX Vanguard Value IndexPairCorr
  0.7STPAX Technology MunicationsPairCorr
  0.68MIOIX Morgan Stanley InstiPairCorr
  0.71RBOTX American Funds 2065PairCorr
  0.93TILCX T Rowe PricePairCorr
  0.75LPREX Blackrock LifepathPairCorr
  0.96PRMDX Maryland Short TermPairCorr
  0.93TFSLX Touchstone FlexiblePairCorr
  0.96JSOCX Jpmorgan Strategic IncomePairCorr
  0.88BIMIX Baird Intermediate BondPairCorr
  0.93GCIIX Goldman Sachs InternPairCorr
  0.95JGMRX Janus TritonPairCorr
  0.95MSPIX Mainstay Sp 500PairCorr
  0.7DELNX Doubleline Low DurationPairCorr
  0.98CHYDX Calamos High IncomePairCorr
  0.96GWOAX Gmo Global DevelopedPairCorr
  0.96LFRRX Lord Abbett InvPairCorr
  0.95VFINX Vanguard 500 IndexPairCorr
  0.98NUSAX Nationwide GovernmentPairCorr
  0.97DVOIX Dividend OpportunitiesPairCorr
  0.88ANGLX Angel Oak MultiPairCorr
  0.95CLVRX Columbia InternationalPairCorr
  0.97USBSX Cornerstone ModeratePairCorr
  0.71GMYYX Mydestination 2045PairCorr
  0.97GMWZX Mydestination 2025PairCorr
  0.74PISHX Cohen Steers PreferredPairCorr
  0.94GCMRX Goldman Sachs MidPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Western Fund performing well and Western Asset 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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