Western Asset Correlations

WACPX Fund

USD 9.17 0.02 0.22%

The current 90-days correlation between Western Asset E and Teachers Insurance And is -0.13 (i.e., Good 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

Significant diversification

The correlation between Western Asset E and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Western Asset E and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Western Asset E. 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 american community survey.

Moving together with Western Mutual Fund

0.62	TEDMX	Templeton Developing	Pair Corr
0.72	TEGBX	Templeton Global Bond	Pair Corr
0.61	TEMEX	Franklin Mutual Beacon	Pair Corr
0.61	TEMIX	Franklin Mutual European	Pair Corr
0.68	TEMTX	Franklin Mutual Shares	Pair Corr
0.65	TEMQX	Mutual Quest	Pair Corr
0.64	SAIFX	Clearbridge Large Cap	Pair Corr
0.73	FQEMX	Franklin Templeton Smacs	Pair Corr
0.64	TEPLX	Templeton Growth	Pair Corr
0.67	TWDAX	Templeton World	Pair Corr
0.69	TESIX	Franklin Mutual Shares	Pair Corr
0.69	TESRX	Franklin Mutual Shares	Pair Corr
0.67	TEWTX	Templeton World	Pair Corr
0.63	SAPYX	Clearbridge Appreciation	Pair Corr
0.94	WAARX	Western Asset Total	Pair Corr

Related Correlations Analysis

	QREARX	CREMX	TCREX	PREAX	PJEAX	DNREX
QREARX		0.89	0.41	0.83	0.76	0.87	QREARX
CREMX	0.89		0.48	0.82	0.73	0.89	CREMX
TCREX	0.41	0.48		0.54	0.57	0.56	TCREX
PREAX	0.83	0.82	0.54		0.97	0.96	PREAX
PJEAX	0.76	0.73	0.57	0.97		0.93	PJEAX
DNREX	0.87	0.89	0.56	0.96	0.93		DNREX
	QREARX	CREMX	TCREX	PREAX	PJEAX	DNREX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
QREARX	0.03	0.00	(1.40)	0.84	0.00	(0.03)	0.07	(0.06)	0.57
CREMX	0.02	0.02	0.00	17.97	0.00	0.00	0.08	0.00	0.16
TCREX	0.56	0.12	(0.04)	(0.48)	0.71	(0.61)	1.30	(1.24)	4.46
PREAX	0.54	0.05	(0.03)	0.24	0.67	(0.60)	1.38	(1.18)	3.55
PJEAX	0.62	0.01	(0.05)	0.14	0.87	(0.62)	1.52	(1.30)	4.67
DNREX	0.72	0.09	0.05	0.25	0.98	(0.77)	1.67	(1.94)	5.63

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Western Asset Correlations

Western Asset Correlation With Market

Significant diversification

Moving together with Western Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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