Western Asset Correlations

WDI Stock

USD 15.04 0.05 0.33%

The current 90-days correlation between Western Asset Diversified and BlackRock Capital Allocation is 0.37 (i.e., 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.

Western Asset Correlation With Market

Very weak diversification

The correlation between Western Asset Diversified and DJI is 0.49 (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 Diversified and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Western Asset Diversified. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Western Stock

0.68	V	Visa Class A Earnings Call This Week	Pair Corr
0.9	GS	Goldman Sachs Group	Pair Corr
0.64	MA	Mastercard	Pair Corr
0.93	AXP	American Express	Pair Corr
0.89	COF	Capital One Financial Earnings Call Today	Pair Corr
0.8	SCM	Stellus Capital Inve	Pair Corr
0.89	GAIN	Gladstone Investment	Pair Corr
0.88	GLAD	Gladstone Capital	Pair Corr
0.79	HTGC	Hercules Capital	Pair Corr
0.8	MAIN	Main Street Capital	Pair Corr
0.88	OPFI	OppFi Inc	Pair Corr
0.89	PFLT	PennantPark Floating Rate	Pair Corr
0.93	PYPL	PayPal Holdings Earnings Call This Week	Pair Corr
0.87	ALLY	Ally Financial	Pair Corr
0.91	ARCC	Ares Capital Earnings Call This Week	Pair Corr
0.92	TPVG	Triplepoint Venture	Pair Corr
0.94	TSLX	Sixth Street Specialty	Pair Corr
0.81	CSWC	Capital Southwest	Pair Corr
0.91	C	Citigroup Aggressive Push	Pair Corr
0.88	L	Loews Corp Earnings Call This Week	Pair Corr
0.86	DHIL	Diamond Hill Investment	Pair Corr
0.82	AB	AllianceBernstein Earnings Call This Week	Pair Corr
0.91	AC	Associated Capital	Pair Corr
0.86	AX	Axos Financial Earnings Call This Week	Pair Corr
0.96	BK	Bank of New York	Pair Corr
0.92	BN	Brookfield Corp	Pair Corr
0.75	BX	Blackstone Group	Pair Corr
0.72	BY	Byline Bancorp Earnings Call This Week	Pair Corr
0.89	CG	Carlyle Group Earnings Call This Week	Pair Corr
0.95	CM	Canadian Imperial Bank	Pair Corr
0.96	DB	Deutsche Bank AG Earnings Call This Week	Pair Corr
0.9	HG	Hamilton Insurance Group,	Pair Corr
0.89	IX	Orix Corp Ads	Pair Corr

Moving against Western Stock

0.52	PSEC	Prospect Capital	Pair Corr
0.71	FG	FG Annuities Life	Pair Corr
0.62	EG	Everest Group Earnings Call This Week	Pair Corr

Related Correlations Analysis

	DMO	BCAT	ARDC	HNW	NBXG	DLY	PAXS	PTA
DMO		0.92	0.89	0.86	0.89	0.79	0.7	0.89	DMO
BCAT	0.92		0.96	0.95	0.95	0.92	0.6	0.96	BCAT
ARDC	0.89	0.96		0.97	0.95	0.91	0.53	0.96	ARDC
HNW	0.86	0.95	0.97		0.96	0.89	0.5	0.97	HNW
NBXG	0.89	0.95	0.95	0.96		0.83	0.59	0.97	NBXG
DLY	0.79	0.92	0.91	0.89	0.83		0.43	0.86	DLY
PAXS	0.7	0.6	0.53	0.5	0.59	0.43		0.57	PAXS
PTA	0.89	0.96	0.96	0.97	0.97	0.86	0.57		PTA
	DMO	BCAT	ARDC	HNW	NBXG	DLY	PAXS	PTA

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Risk-Adjusted Indicators

There is a big difference between Western Stock performing well and Western Asset Company 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
DMO	0.39	0.03	(0.12)	0.26	0.41	(0.45)	0.89	(0.77)	2.78
BCAT	0.55	0.12	0.07	0.37	0.35	(0.64)	1.48	(1.07)	3.62
ARDC	0.39	0.12	0.05	0.59	0.08	(0.49)	0.96	(0.64)	3.71
HNW	0.44	0.16	0.07	4.12	0.00	(0.59)	1.32	(0.72)	3.62
NBXG	0.84	0.44	0.28	(3.55)	0.46	(1.07)	2.60	(1.37)	5.51
DLY	0.35	0.03	(0.13)	0.24	0.30	(0.43)	0.96	(0.46)	2.70
PAXS	0.52	0.08	(0.10)	(0.78)	0.60	(0.54)	1.11	(1.00)	3.60
PTA	0.52	0.16	0.01	(0.97)	0.50	(0.57)	1.06	(0.93)	3.35

Western Asset Corporate Management

Daniel Cronin	Independent Trustee	Profile
Christopher Berarducci	Principal Financial Officer, Treasurer	Profile
Jeanne Kelly	Senior Vice President	Profile
Eileen Kamerick	Independent Trustee	Profile
Nisha Kumar	Independent Trustee	Profile
Robert Agdern	Independent Trustee	Profile

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