Western Asset Correlations

Mutual Funds . USA . 
Fund . Western Asset Smash
LMSMX Fund  USD 7.70  0.03  0.39%   
The current 90-days correlation between Western Asset Smash and Clearbridge Aggressive Growth is 0.09 (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

Average diversification

The correlation between Western Asset Smash and DJI is 0.11 (i.e., Average 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 population.

Moving together with Western Mutual Fund

  0.86LGOCX Legg Mason BwPairCorr
  0.88WAASX Western Asset TotalPairCorr
  0.96WACIX Western Asset EPairCorr
  0.95WACSX Western Asset EPairCorr
  0.96WABCX Western Asset EPairCorr
  0.96WABRX Western Asset EPairCorr
  0.9WABSX Western Asset IntermPairCorr
  0.73WAGIX Western Asset GlobalPairCorr
  0.85SSTLX Western Asset ShortPairCorr
  0.89WAFCX Western Asset InflationPairCorr
  0.89WAFSX Western Asset InflationPairCorr
  0.9WAFRX Western Asset InflationPairCorr
  0.64WAHSX Western Asset HighPairCorr
  0.97WAPCX Western Asset EPairCorr
  0.95WAPIX Western Asset EPairCorr
  0.96WAPSX Western Asset EPairCorr
  0.96WAPRX Western Asset EPairCorr
  0.86SBILX Western Asset PoratePairCorr
  0.89WARIX Western Asset TotalPairCorr
  0.94WATCX Western Asset IntermPairCorr
  0.92WATRX Western Asset IntermPairCorr
  0.9WATPX Western Asset InflationPairCorr
  0.9WAUCX Western Asset TotalPairCorr
  0.89WAURX Western Asset TotalPairCorr
  0.64WAYRX Western Asset HighPairCorr

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  0.09  0.08  0.24  0.54 
(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  0.17 (0.01)(0.48)(0.14) 0.22 
(0.21)
 0.42 
(0.35)
 1.19 
WAASX  0.16  0.02 (0.44) 1.05  0.00 
(0.20)
 0.33 
(0.33)
 0.88 
LGSCX  0.83  0.13  0.12  0.26  0.80 
(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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