Clearbridge Variable Correlations

CVAPX Fund

USD 65.27 0.24 0.37%

The current 90-days correlation between Clearbridge Variable and Us High Relative is 0.55 (i.e., Very weak diversification). The correlation of Clearbridge Variable 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.

Clearbridge Variable Correlation With Market

Modest diversification

The correlation between Clearbridge Variable Appreciat and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Clearbridge Variable Appreciat 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 Clearbridge Variable Appreciation. 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 american community survey.

Moving together with Clearbridge Mutual Fund

0.67	CAT	Caterpillar Earnings Call This Week	Pair Corr
0.88	TRV	The Travelers Companies	Pair Corr
0.88	AA	Alcoa Corp	Pair Corr
0.75	JNJ	Johnson Johnson	Pair Corr
0.71	VZ	Verizon Communications	Pair Corr
0.87	INTC	Intel	Pair Corr
0.84	HPQ	HP Inc	Pair Corr
0.83	DD	Dupont De Nemours Earnings Call This Week	Pair Corr

Moving against Clearbridge Mutual Fund

0.83	BA	Boeing	Pair Corr
0.46	WMT	Walmart Aggressive Push	Pair Corr

Related Correlations Analysis

	DURPX	RHYAX	CHYDX	GFRRX	AORYX	SGYAX	ARTFX
DURPX		0.6	0.55	0.19	0.97	0.38	0.45	DURPX
RHYAX	0.6		0.93	0.74	0.65	0.84	0.93	RHYAX
CHYDX	0.55	0.93		0.85	0.58	0.93	0.95	CHYDX
GFRRX	0.19	0.74	0.85		0.18	0.85	0.91	GFRRX
AORYX	0.97	0.65	0.58	0.18		0.41	0.48	AORYX
SGYAX	0.38	0.84	0.93	0.85	0.41		0.91	SGYAX
ARTFX	0.45	0.93	0.95	0.91	0.48	0.91		ARTFX
	DURPX	RHYAX	CHYDX	GFRRX	AORYX	SGYAX	ARTFX

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Risk-Adjusted Indicators

There is a big difference between Clearbridge Mutual Fund performing well and Clearbridge Variable 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 Clearbridge Variable'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
DURPX	0.56	0.01	(0.06)	0.12	0.73	(0.59)	1.19	(1.18)	4.76
RHYAX	0.10	0.02	(0.31)	0.77	0.00	(0.15)	0.21	(0.21)	0.72
CHYDX	0.10	0.02	(0.37)	0.92	0.00	(0.17)	0.26	(0.13)	0.64
GFRRX	0.07	0.02	(0.60)	(0.78)	0.00	(0.27)	0.11	(0.11)	0.69
AORYX	0.44	0.00	(0.08)	0.10	0.65	(0.46)	0.93	(0.73)	3.76
SGYAX	0.15	0.02	(0.33)	0.75	0.00	(0.26)	0.56	(0.28)	1.27
ARTFX	0.11	0.02	(0.31)	(11.49)	0.00	(0.18)	0.44	(0.22)	1.10

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