Western Asset Correlations

Mutual Funds . USA . 
Fund . Western Asset E
WATFX Fund  USD 10.51  0.02  0.19%   
The current 90-days correlation between Western Asset E and Fidelity Sai Convertible is -0.01 (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

Modest diversification

The correlation between Western Asset E and DJI is 0.25 (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 census.

Moving together with Western Mutual Fund

  0.69TEBIX Franklin Mutual BeaconPairCorr
  0.76TEDMX Templeton DevelopingPairCorr
  0.71TEDIX Franklin Mutual GlobalPairCorr
  0.71TEDSX Franklin Mutual GlobalPairCorr
  0.73TEDRX Franklin Mutual GlobalPairCorr
  0.69TEFRX Templeton ForeignPairCorr
  0.68TEFTX Templeton ForeignPairCorr
  0.81TEGBX Templeton Global BondPairCorr
  0.74TEGRX Templeton GrowthPairCorr
  0.68TEMFX Templeton ForeignPairCorr
  0.67TEMGX Templeton Global SmallerPairCorr
  0.69TEMEX Franklin Mutual BeaconPairCorr
  0.69TEMMX Templeton EmergingPairCorr
  0.7TEMIX Franklin Mutual EuropeanPairCorr
  0.74TEMWX Templeton WorldPairCorr
  0.74TEMTX Franklin Mutual SharesPairCorr
  0.74TEMQX Mutual QuestPairCorr
  0.68FQCTX Franklin Necticut TaxPairCorr
  0.69SAIFX Clearbridge Large CapPairCorr
  0.71SAGYX Clearbridge AggressivePairCorr
  0.69TEMZX Templeton EmergingPairCorr
  0.8FQEMX Franklin Templeton SmacsPairCorr
  0.74TEQIX Franklin Mutual QuestPairCorr
  0.72TEPLX Templeton GrowthPairCorr
  0.75TWDAX Templeton WorldPairCorr
  0.74TESIX Franklin Mutual SharesPairCorr
  0.69TESGX Templeton Global SmallerPairCorr
  0.74TESRX Franklin Mutual SharesPairCorr
  0.62LGGAX Clearbridge InternationalPairCorr
  0.7TEURX Franklin Mutual EuropeanPairCorr
  0.68LGIEX Qs International EquityPairCorr
  0.74TEWTX Templeton WorldPairCorr
  0.73SAPYX Clearbridge AppreciationPairCorr
  0.68SASMX Clearbridge Small CapPairCorr
  0.61FQNCX Franklin North CarolinaPairCorr
  0.96WAARX 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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