Western Asset Correlations

Mutual Funds . USA . 
Fund . Western Asset E
WATFX Fund  USD 10.60  0.04  0.38%   
The current 90-days correlation between Western Asset E and Victory High Income is 0.54 (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

Good diversification

The correlation between Western Asset E and DJI is -0.15 (i.e., Good 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

  0.62TEFRX Templeton ForeignPairCorr
  0.63TEFTX Templeton ForeignPairCorr
  0.97TEGBX Templeton Global BondPairCorr
  0.61TEMFX Templeton ForeignPairCorr
  0.7TEMMX Templeton EmergingPairCorr
  0.66TEMIX Franklin Mutual EuropeanPairCorr
  0.7TEMZX Templeton EmergingPairCorr
  0.75LGGAX Clearbridge InternationalPairCorr
  0.67TEURX Franklin Mutual EuropeanPairCorr
  0.76LGIEX Qs International EquityPairCorr
  0.63FQNCX Franklin North CarolinaPairCorr
  0.82WAARX Western Asset TotalPairCorr

Moving against Western Mutual Fund

  0.67TEMTX Franklin Mutual SharesPairCorr
  0.55TEMWX Templeton WorldPairCorr
  0.34TEBIX Franklin Mutual BeaconPairCorr
  0.77SAGYX Clearbridge AggressivePairCorr
  0.73SAIFX Clearbridge Large CapPairCorr
  0.68TESIX Franklin Mutual SharesPairCorr
  0.68TESRX Franklin Mutual SharesPairCorr
  0.56TWDAX Templeton WorldPairCorr
  0.53TEWTX Templeton WorldPairCorr
  0.8SBAYX Western Asset AdjustablePairCorr
  0.77LGVAX Clearbridge Value TrustPairCorr
  0.73SAPYX Clearbridge AppreciationPairCorr
  0.69SASMX Clearbridge Small CapPairCorr
  0.6WAADX Western Asset SmashPairCorr
  0.44FQTEX Franklin Strategic SeriesPairCorr

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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