Western Asset Correlations

Mutual Funds . USA . 
Fund . Western Asset Managed
SSMMX Fund  USD 14.90  0.03  0.20%   
The current 90-days correlation between Western Asset Managed and Pace Strategic Fixed is 0.54 (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 Managed and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Western Asset Managed 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 Managed. 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 industry.

Moving together with Western Mutual Fund

  0.72LGASX Clearbridge Small CapPairCorr
  0.83LGFEX Qs International EquityPairCorr
  0.87SAPCX Clearbridge AppreciationPairCorr
  0.76LGOCX Legg Mason BwPairCorr
  0.88WAASX Western Asset TotalPairCorr
  0.89LGSCX Qs Small CapitalizationPairCorr
  0.87WACIX Western Asset EPairCorr
  0.89WACSX Western Asset EPairCorr
  0.91WABCX Western Asset EPairCorr
  0.88WABRX Western Asset EPairCorr
  0.85WABSX Western Asset IntermPairCorr
  0.84WAGIX Western Asset GlobalPairCorr
  0.85SSTLX Western Asset ShortPairCorr
  0.86WAFCX Western Asset InflationPairCorr
  0.87WAFSX Western Asset InflationPairCorr
  0.87WAFRX Western Asset InflationPairCorr
  0.93SBCLX Qs Defensive GrowthPairCorr
  0.9WAHSX Western Asset HighPairCorr
  0.88WAPCX Western Asset EPairCorr
  0.87WAPIX Western Asset EPairCorr
  0.89WAPSX Western Asset EPairCorr
  0.87WAPRX Western Asset EPairCorr
  0.76SBICX Clearbridge InternationalPairCorr
  0.91SBILX Western Asset PoratePairCorr
  0.88WARIX Western Asset TotalPairCorr
  0.8WATCX Western Asset IntermPairCorr
  0.83WATRX Western Asset IntermPairCorr
  0.73WATPX Western Asset InflationPairCorr
  0.73SBMLX Clearbridge Mid CapPairCorr
  0.87SBPLX Clearbridge DividendPairCorr
  0.86WAUCX Western Asset TotalPairCorr
  0.85WAURX Western Asset TotalPairCorr
  0.91SBSDX Qs Sp 500PairCorr
  0.9WAYRX Western Asset HighPairCorr
  1.0SBYLX Western Asset NewPairCorr
  1.0SCACX Western Asset CaliforniaPairCorr
  0.93SCBCX Qs Servative GrowthPairCorr
  0.92SCGCX Qs Moderate GrowthPairCorr

Related Correlations Analysis


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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