Western Asset Correlations

Mutual Funds . USA . 
Fund . Western Asset Smash
LMECX Fund  USD 5.87  0.01  0.17%   
The current 90-days correlation between Western Asset Smash and Clearbridge Aggressive Growth is 0.57 (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

Very weak diversification

The correlation between Western Asset Smash and DJI is 0.51 (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 Smash and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Western Asset Smash. 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

  0.95SAGCX Clearbridge AggressivePairCorr
  0.91LGASX Clearbridge Small CapPairCorr
  0.91LGFEX Qs International EquityPairCorr
  0.93SAPCX Clearbridge AppreciationPairCorr
  0.86LGOCX Legg Mason BwPairCorr
  0.64SSMMX Western Asset ManagedPairCorr
  0.92WAASX Western Asset TotalPairCorr
  0.95LGSCX Qs Small CapitalizationPairCorr
  0.82WACIX Western Asset EPairCorr
  0.86WACSX Western Asset EPairCorr
  0.83WABCX Western Asset EPairCorr
  0.84WABRX Western Asset EPairCorr
  0.89WABSX Western Asset IntermPairCorr
  0.97WAGIX Western Asset GlobalPairCorr
  0.89SSTLX Western Asset ShortPairCorr
  0.82WAFCX Western Asset InflationPairCorr
  0.83WAFSX Western Asset InflationPairCorr
  0.81WAFRX Western Asset InflationPairCorr
  0.98SBCLX Qs Defensive GrowthPairCorr
  0.98WAHSX Western Asset HighPairCorr
  0.79WAPCX Western Asset EPairCorr
  0.85WAPIX Western Asset EPairCorr
  0.84WAPSX Western Asset EPairCorr
  0.82WAPRX Western Asset EPairCorr
  0.94SBICX Clearbridge InternationalPairCorr
  0.94SBILX Western Asset PoratePairCorr
  0.93WARIX Western Asset TotalPairCorr
  0.86WATCX Western Asset IntermPairCorr
  0.82WATPX Western Asset InflationPairCorr
  0.94SBMLX Clearbridge Mid CapPairCorr
  0.94SBPLX Clearbridge DividendPairCorr
  0.91WAUCX Western Asset TotalPairCorr
  0.92WAURX Western Asset TotalPairCorr
  0.95SBSDX Qs Sp 500PairCorr
  0.98WAYRX Western Asset HighPairCorr
  0.95SCBCX Qs Servative GrowthPairCorr
  0.95SCGCX Qs Moderate GrowthPairCorr
  0.95SCHCX Qs Growth FundPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SAGCX  0.87  0.15  0.15  0.27  0.73 
(1.04)
 2.54 
(1.61)
 6.37 
LGASX  0.90  0.08  0.08  0.21  0.89 
(1.06)
 2.06 
(1.61)
 6.79 
LGFEX  0.55  0.11  0.04  0.42  0.49 
(0.59)
 1.21 
(1.10)
 3.22 
SAPCX  0.59  0.22  0.09 (3.40) 0.53 
(0.69)
 1.76 
(1.02)
 3.79 
LGOCX  0.33  0.04 (0.25)(0.54) 0.29 
(0.42)
 0.81 
(0.59)
 1.90 
SSMMX  0.18  0.01 (0.42)(0.19) 0.17 
(0.23)
 0.49 
(0.35)
 1.62 
WAASX  0.17  0.04 (0.40) 4.85  0.00 
(0.22)
 0.44 
(0.33)
 1.22 
LGSCX  0.82  0.31  0.14 (1.70) 0.77 
(0.94)
 2.47 
(1.71)
 5.59 
WACIX  0.28  0.01 (0.31) 0.22  0.28 
(0.30)
 0.55 
(0.55)
 1.33 
WACSX  0.27  0.01 (0.30) 0.27  0.25 
(0.31)
 0.48 
(0.48)
 1.26 

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