Western Asset Correlations

ARMLX Fund

USD 9.15 0.01 0.11%

The current 90-days correlation between Western Asset Adjustable and Short Term Fund Administrative is 0.76 (i.e., Poor 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 Adjustable and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Western Asset Adjustable and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Western Asset Adjustable. 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 bureau of economic analysis.

Moving together with Western Mutual Fund

0.86	SAGCX	Clearbridge Aggressive	Pair Corr
0.77	LGASX	Clearbridge Small Cap	Pair Corr
0.8	SAPCX	Clearbridge Appreciation	Pair Corr
0.71	LGSCX	Qs Small Capitalization	Pair Corr
0.89	WAHSX	Western Asset High	Pair Corr
0.84	SBMLX	Clearbridge Mid Cap	Pair Corr
0.89	SBPLX	Clearbridge Dividend	Pair Corr
0.84	SBSDX	Qs Sp 500	Pair Corr
0.87	WAYRX	Western Asset High	Pair Corr
0.69	SCBCX	Qs Servative Growth	Pair Corr
0.76	SCGCX	Qs Moderate Growth	Pair Corr

Moving against Western Mutual Fund

0.81	LGOCX	Legg Mason Bw	Pair Corr
0.73	WABCX	Western Asset E	Pair Corr
0.73	WAPCX	Western Asset E	Pair Corr
0.72	WAPIX	Western Asset E	Pair Corr
0.72	WAPRX	Western Asset E	Pair Corr
0.7	WACSX	Western Asset E	Pair Corr
0.7	WAPSX	Western Asset E	Pair Corr
0.69	WACIX	Western Asset E	Pair Corr
0.69	WABRX	Western Asset E	Pair Corr
0.65	LGFEX	Qs International Equity	Pair Corr
0.61	SBICX	Clearbridge International	Pair Corr
0.6	WATCX	Western Asset Interm	Pair Corr
0.58	WAFRX	Western Asset Inflation	Pair Corr
0.56	WABSX	Western Asset Interm	Pair Corr
0.56	SBILX	Western Asset Porate	Pair Corr
0.55	WAFCX	Western Asset Inflation	Pair Corr
0.55	WAFSX	Western Asset Inflation	Pair Corr
0.33	WARIX	Western Asset Total	Pair Corr
0.68	LIESX	Qs International Equity	Pair Corr
0.65	LMAQX	Legg Mason Bw	Pair Corr
0.61	WATRX	Western Asset Interm	Pair Corr
0.61	LMBSX	Western Asset Mortgage	Pair Corr
0.61	LMAMX	Legg Mason Bw	Pair Corr
0.6	LIORX	Clearbridge International	Pair Corr
0.56	WATPX	Western Asset Inflation	Pair Corr
0.41	WAUCX	Western Asset Total	Pair Corr
0.38	SBYLX	Western Asset New	Pair Corr
0.37	SCACX	Western Asset California	Pair Corr
0.36	WAURX	Western Asset Total	Pair Corr

Related Correlations Analysis

	PSFAX	LUSNX	VUBFX	PSDYX
PSFAX		0.95	0.88	0.95	PSFAX
LUSNX	0.95		0.93	0.98	LUSNX
VUBFX	0.88	0.93		0.92	VUBFX
PSDYX	0.95	0.98	0.92		PSDYX
	PSFAX	LUSNX	VUBFX	PSDYX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PSFAX	0.06	0.01	0.00	(1.13)	0.00	0.11	(0.10)	0.52
LUSNX	0.05	0.01	(0.69)	(1.70)	(0.19)	0.10	(0.10)	0.50
VUBFX	0.05	0.01	(0.56)	0.93	(0.10)	0.10	(0.10)	0.30
PSDYX	0.04	0.01	0.00	(0.92)	0.00	0.10	0.00	0.50

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