Western Assets Correlations

XEMDX Fund

USD 10.71 0.04 0.37%

The current 90-days correlation between Western Assets Emerging and Clarion Partners Real is -0.27 (i.e., Very good diversification). The correlation of Western Assets 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 Assets Correlation With Market

Average diversification

The correlation between Western Assets Emerging and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Western Assets Emerging 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 Assets Emerging. 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 unemployment.

Moving together with Western Mutual Fund

0.66	VTSAX	Vanguard Total Stock	Pair Corr
0.66	VFIAX	Vanguard 500 Index	Pair Corr
0.83	VTSMX	Vanguard Total Stock	Pair Corr
0.83	VITSX	Vanguard Total Stock	Pair Corr
0.83	VSTSX	Vanguard Total Stock	Pair Corr
0.83	VSMPX	Vanguard Total Stock	Pair Corr
0.66	VFINX	Vanguard 500 Index	Pair Corr
0.83	VFFSX	Vanguard 500 Index	Pair Corr
0.83	VGTSX	Vanguard Total Inter	Pair Corr
0.83	VTIAX	Vanguard Total Inter	Pair Corr
0.61	NHS	Neuberger Berman High	Pair Corr
0.67	AA	Alcoa Corp	Pair Corr
0.72	CSCO	Cisco Systems	Pair Corr
0.73	IBM	International Business Earnings Call This Week	Pair Corr
0.63	DIS	Walt Disney	Pair Corr
0.7	CVX	Chevron Corp	Pair Corr
0.69	CAT	Caterpillar	Pair Corr
0.63	MSFT	Microsoft	Pair Corr

Moving against Western Mutual Fund

0.39

Coca Cola Earnings Call Tomorrow

Pair Corr

Related Correlations Analysis

	CPRTX	TIREX	TCREX	STMMX	CNREX	NRCFX	PJEAX
CPRTX		0.57	0.57	0.63	0.36	0.29	0.59	CPRTX
TIREX	0.57		1.0	0.99	0.5	0.51	0.97	TIREX
TCREX	0.57	1.0		0.99	0.5	0.51	0.97	TCREX
STMMX	0.63	0.99	0.99		0.46	0.48	0.95	STMMX
CNREX	0.36	0.5	0.5	0.46		0.85	0.61	CNREX
NRCFX	0.29	0.51	0.51	0.48	0.85		0.65	NRCFX
PJEAX	0.59	0.97	0.97	0.95	0.61	0.65		PJEAX
	CPRTX	TIREX	TCREX	STMMX	CNREX	NRCFX	PJEAX

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Risk-Adjusted Indicators

There is a big difference between Western Mutual Fund performing well and Western Assets 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 Assets' 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
CPRTX	0.04	0.01	0.00	0.94	0.00	0.00	0.09	0.00	0.44
TIREX	0.57	0.12	(0.04)	(0.47)	0.78	(0.59)	1.31	(1.22)	4.47
TCREX	0.56	0.12	(0.04)	(0.48)	0.71	(0.61)	1.30	(1.24)	4.46
STMMX	0.55	0.11	(0.05)	(0.45)	0.69	(0.62)	1.42	(1.07)	4.36
CNREX	0.69	0.02	(0.01)	0.16	0.81	(0.69)	1.61	(1.57)	4.14
NRCFX	0.54	0.04	(0.04)	0.22	0.66	(0.57)	1.43	(1.18)	3.75
PJEAX	0.60	0.12	(0.04)	(0.49)	0.79	(0.62)	1.52	(1.29)	4.67

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