Western Asset Correlations

Mutual Funds . USA . 
Fund . Western Asset Porate
SIGAX Fund  USD 10.57  0.02  0.19%   
The current 90-days correlation between Western Asset Porate and Pace Large Growth is 0.31 (i.e., 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 Porate and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Western Asset Porate and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Western Asset Porate. 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 nation.

Moving together with Western Mutual Fund

  0.85TEBIX Franklin Mutual BeaconPairCorr
  0.88TEDMX Templeton DevelopingPairCorr
  0.86TEDIX Franklin Mutual GlobalPairCorr
  0.86TEDSX Franklin Mutual GlobalPairCorr
  0.85TEDRX Franklin Mutual GlobalPairCorr
  0.83TEFRX Templeton ForeignPairCorr
  0.83TEFTX Templeton ForeignPairCorr
  0.92TEGBX Templeton Global BondPairCorr
  0.86TEGRX Templeton GrowthPairCorr
  0.84TEMFX Templeton ForeignPairCorr
  0.82TEMGX Templeton Global SmallerPairCorr
  0.85TEMEX Franklin Mutual BeaconPairCorr
  0.83TEMMX Templeton EmergingPairCorr
  0.84TEMIX Franklin Mutual EuropeanPairCorr
  0.87TEMWX Templeton WorldPairCorr
  0.88TEMTX Franklin Mutual SharesPairCorr
  0.86TEMQX Mutual QuestPairCorr
  0.65FQCTX Franklin Necticut TaxPairCorr
  0.84SAIFX Clearbridge Large CapPairCorr
  0.83SAGYX Clearbridge AggressivePairCorr
  0.83TEMZX Templeton EmergingPairCorr
  0.9FQEMX Franklin Templeton SmacsPairCorr
  0.86TEQIX Franklin Mutual QuestPairCorr
  0.86TEPLX Templeton GrowthPairCorr
  0.87TWDAX Templeton WorldPairCorr
  0.88TESIX Franklin Mutual SharesPairCorr
  0.82TESGX Templeton Global SmallerPairCorr
  0.88TESRX Franklin Mutual SharesPairCorr
  0.77LGGAX Clearbridge InternationalPairCorr
  0.83TEURX Franklin Mutual EuropeanPairCorr
  0.8LGIEX Qs International EquityPairCorr
  0.87TEWTX Templeton WorldPairCorr
  0.85SAPYX Clearbridge AppreciationPairCorr
  0.83SASMX Clearbridge Small CapPairCorr
  0.61FQNCX Franklin North CarolinaPairCorr
  0.78WAADX Western Asset SmashPairCorr
  0.95WAARX Western Asset TotalPairCorr

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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