Western Asset Correlations

Mutual Funds . USA . 
Fund . Western Asset E
WAPSX Fund  USD 9.17  0.02  0.22%   
The current 90-days correlation between Western Asset E and Prudential High Yield is 0.08 (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

Modest diversification

The correlation between Western Asset E and DJI is 0.24 (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 state.

Moving together with Western Mutual Fund

  0.67SAPCX Clearbridge AppreciationPairCorr
  0.91LGOCX Legg Mason BwPairCorr
  0.77WAASX Western Asset TotalPairCorr
  0.68LGSCX Qs Small CapitalizationPairCorr
  0.88WACIX Western Asset EPairCorr
  0.86WACSX Western Asset EPairCorr
  0.99WABCX Western Asset EPairCorr
  1.0WABRX Western Asset EPairCorr
  0.96WABSX Western Asset IntermPairCorr
  0.83WAGIX Western Asset GlobalPairCorr
  0.87SSTLX Western Asset ShortPairCorr
  0.92WAFCX Western Asset InflationPairCorr
  0.93WAFSX Western Asset InflationPairCorr
  0.93WAFRX Western Asset InflationPairCorr
  0.75SBCLX Qs Defensive GrowthPairCorr
  0.8WAHSX Western Asset HighPairCorr
  0.99WAPCX Western Asset EPairCorr
  1.0WAPIX Western Asset EPairCorr
  1.0WAPRX Western Asset EPairCorr
  0.67SBICX Clearbridge InternationalPairCorr
  0.96SBILX Western Asset PoratePairCorr
  0.95WARIX Western Asset TotalPairCorr
  0.97WATCX Western Asset IntermPairCorr
  0.97WATRX Western Asset IntermPairCorr
  0.93WATPX Western Asset InflationPairCorr
  0.64SBMLX Clearbridge Mid CapPairCorr
  0.7SBPLX Clearbridge DividendPairCorr
  0.96WAUCX Western Asset TotalPairCorr
  0.95WAURX Western Asset TotalPairCorr
  0.69SBSDX Qs Sp 500PairCorr
  0.8WAYRX Western Asset HighPairCorr
  0.69SCBCX Qs Servative GrowthPairCorr

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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