Clearbridge Energy Correlations
| EMO Fund | USD 50.42 0.16 0.32% |
The current 90-days correlation between Clearbridge Energy Mlp and First Trust High is 0.06 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Clearbridge Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Clearbridge Energy Mlp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Clearbridge Energy Correlation With Market
Weak diversification
The correlation between Clearbridge Energy Mlp and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Clearbridge Energy Mlp and DJI in the same portfolio, assuming nothing else is changed.
Clearbridge |
Moving together with Clearbridge Fund
| 0.83 | BTO | John Hancock Financial | PairCorr |
| 0.69 | CNEYX | Alger Concentrated Equity | PairCorr |
| 0.71 | AMGAX | Alger Midcap Growth | PairCorr |
| 0.73 | LGLOX | Lord Abbett Growth | PairCorr |
| 0.65 | EIDOX | Eaton Vance Emerging | PairCorr |
| 0.65 | UASBX | Short Term Bond | PairCorr |
| 0.8 | SCFFX | Shenkman Short Duration | PairCorr |
| 0.77 | KSOCX | Kinetics Small Cap | PairCorr |
| 0.67 | PCCOX | T Rowe Price | PairCorr |
| 0.67 | GSFRX | Goldman Sachs High | PairCorr |
| 0.85 | ADKSX | Adirondack Small Cap | PairCorr |
| 0.95 | GLPAX | Goldman Sachs Mlp | PairCorr |
| 0.95 | SPMWX | Invesco Steelpath Mlp | PairCorr |
| 0.94 | SMLPX | Salient Mlp Energy | PairCorr |
| 0.72 | RBNAX | Robinson Opportunistic | PairCorr |
| 0.83 | MMGTX | Msvif Mid Cap | PairCorr |
| 0.63 | CUSBX | Columbia Ultra Short | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Correlation Matchups
Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.High positive correlations
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between Clearbridge Fund performing well and Clearbridge Energy 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 Energy'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| FOCS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| BCAT | 0.61 | 0.00 | (0.01) | 0.05 | 0.76 | 1.54 | 4.27 | |||
| GCMG | 1.11 | 0.17 | 0.11 | 0.36 | 1.15 | 3.10 | 8.40 | |||
| CMU | 0.46 | (0.04) | 0.00 | 27.22 | 0.00 | 0.86 | 2.84 | |||
| FTHY | 0.48 | (0.01) | (0.03) | (0.01) | 0.55 | 0.83 | 2.97 | |||
| TTP | 0.98 | 0.12 | 0.09 | 0.45 | 1.05 | 2.07 | 7.03 | |||
| IHIT | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| IAF | 0.80 | (0.04) | 0.00 | (0.09) | 0.00 | 1.91 | 5.29 | |||
| CTR | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| JMM | 0.51 | 0.00 | (0.03) | (0.08) | 0.60 | 1.01 | 3.51 |