Western Asset Correlations

Mutual Funds . USA . 
Fund . Western Asset E
WAPCX Fund  USD 9.17  0.03  0.33%   
The current 90-days correlation between Western Asset E and Target Retirement 2040 is 0.22 (i.e., Modest 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

Modest diversification

The correlation between Western Asset E and DJI is 0.22 (i.e., Modest 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 main economic indicators.

Moving together with Western Mutual Fund

  0.7MWTNX Metropolitan West TotalPairCorr
  0.72MWTSX Metropolitan West TotalPairCorr
  0.8PTTPX Pimco Total ReturnPairCorr
  0.8PTRRX Total ReturnPairCorr
  0.79PTRAX Total ReturnPairCorr
  0.8PTTRX Total ReturnPairCorr
  0.8FIWGX Strategic AdvisersPairCorr
  0.81DODIX Dodge IncomePairCorr
  0.71MWTIX Metropolitan West TotalPairCorr
  0.7MWTRX Metropolitan West 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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