Western Asset Correlations

Mutual Funds . USA . 
Fund . Western Asset High
WAYRX Fund  USD 6.94  0.01  0.14%   
The current 90-days correlation between Western Asset High and Growth Allocation Fund is 0.59 (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

Very weak diversification

The correlation between Western Asset High and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Western Asset High 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 High. 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 metropolitan statistical area.

Moving together with Western Mutual Fund

  0.96SAGCX Clearbridge AggressivePairCorr
  0.92LGASX Clearbridge Small CapPairCorr
  0.91LGFEX Qs International EquityPairCorr
  0.97SAPCX Clearbridge AppreciationPairCorr
  0.82LGOCX Legg Mason BwPairCorr
  0.91WAASX Western Asset TotalPairCorr
  0.98LGSCX Qs Small CapitalizationPairCorr
  0.78WACIX Western Asset EPairCorr
  0.83WACSX Western Asset EPairCorr
  0.79WABCX Western Asset EPairCorr
  0.8WABRX Western Asset EPairCorr
  0.88WABSX Western Asset IntermPairCorr
  0.99WAGIX Western Asset GlobalPairCorr
  0.9SSTLX Western Asset ShortPairCorr
  0.79WAFCX Western Asset InflationPairCorr
  0.82WAFSX Western Asset InflationPairCorr
  0.79WAFRX Western Asset InflationPairCorr
  0.98SBCLX Qs Defensive GrowthPairCorr
  1.0WAHSX Western Asset HighPairCorr
  0.75WAPCX Western Asset EPairCorr
  0.81WAPIX Western Asset EPairCorr
  0.8WAPSX Western Asset EPairCorr
  0.77WAPRX Western Asset EPairCorr
  0.96SBICX Clearbridge InternationalPairCorr
  0.92SBILX Western Asset PoratePairCorr
  0.91WARIX Western Asset TotalPairCorr
  0.84WATCX Western Asset IntermPairCorr
  0.86WATRX Western Asset IntermPairCorr
  0.8WATPX Western Asset InflationPairCorr
  0.96SBMLX Clearbridge Mid CapPairCorr
  0.97SBPLX Clearbridge DividendPairCorr
  0.89WAUCX Western Asset TotalPairCorr
  0.9WAURX Western Asset TotalPairCorr
  0.97SBSDX Qs Sp 500PairCorr
  0.97SCBCX Qs Servative GrowthPairCorr
  0.97SCGCX Qs Moderate 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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