Western Asset Correlations

Mutual Funds . USA . 
Fund . Western Asset Total
WARIX Fund  USD 9.13  0.02  0.22%   
The current 90-days correlation between Western Asset Total and Icon Equity Income is 0.2 (i.e., Modest 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 Total and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Western Asset Total 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 Total. 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 gross domestic product.

Moving together with WESTERN Mutual Fund

  0.81LGOCX Legg Mason BwPairCorr
  0.82SSMMX Western Asset ManagedPairCorr
  1.0WAASX Western Asset TotalPairCorr
  0.88WACIX Western Asset EPairCorr
  0.86WACSX Western Asset EPairCorr
  0.85WABCX Western Asset EPairCorr
  0.85WABRX Western Asset EPairCorr
  0.88WABSX Western Asset IntermPairCorr
  0.82WAGIX Western Asset GlobalPairCorr
  0.87SSTLX Western Asset ShortPairCorr
  0.88WAFCX Western Asset InflationPairCorr
  0.89WAFSX Western Asset InflationPairCorr
  0.88WAFRX Western Asset InflationPairCorr
  0.88WAPCX Western Asset EPairCorr
  0.85WAPIX Western Asset EPairCorr
  0.89WAPSX Western Asset EPairCorr
  0.88WAPRX Western Asset EPairCorr
  0.9SBILX Western Asset PoratePairCorr
  0.87WATCX Western Asset IntermPairCorr
  0.87WATRX Western Asset IntermPairCorr
  0.89WATPX Western Asset InflationPairCorr
  0.99WAUCX Western Asset TotalPairCorr
  0.84SBYLX Western Asset NewPairCorr
  0.87SCACX Western Asset CaliforniaPairCorr

Moving against WESTERN Mutual Fund

  0.38SAGCX Clearbridge AggressivePairCorr
  0.33LGASX Clearbridge Small CapPairCorr
  0.33SAPCX Clearbridge AppreciationPairCorr
  0.47ARMLX Western Asset AdjustablePairCorr
  0.45ARMGX Western Asset AdjustablePairCorr
  0.36SBPLX Clearbridge DividendPairCorr
  0.33LISGX Clearbridge Small CapPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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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