Clearbridge Small Correlations

Mutual Funds . USA . 
Fund . Clearbridge Small Cap
LGASX Fund  USD 66.74  0.41  0.62%   
The current 90-days correlation between Clearbridge Small Cap and Metropolitan West Porate is 0.12 (i.e., Average diversification). The correlation of Clearbridge Small 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 Small Correlation With Market

Weak diversification

The correlation between Clearbridge Small Cap and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Clearbridge Small Cap and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Clearbridge Small Cap. 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 state.

Moving together with Clearbridge Mutual Fund

  0.75SAGCX Clearbridge AggressivePairCorr
  0.88SAPCX Clearbridge AppreciationPairCorr
  0.73SSMMX Western Asset ManagedPairCorr
  0.98LGSCX Qs Small CapitalizationPairCorr
  0.64WACIX Western Asset EPairCorr
  0.62WAFSX Western Asset InflationPairCorr
  0.85SBCLX Qs Defensive GrowthPairCorr
  0.73WAPCX Western Asset EPairCorr
  0.7WAPSX Western Asset EPairCorr
  0.75WAPRX Western Asset EPairCorr
  0.68SBILX Western Asset PoratePairCorr
  0.63WARIX Western Asset TotalPairCorr
  0.86SBMLX Clearbridge Mid CapPairCorr
  0.82SBPLX Clearbridge DividendPairCorr
  0.71WAUCX Western Asset TotalPairCorr
  0.63WAURX Western Asset TotalPairCorr
  0.63SBSDX Qs Sp 500PairCorr
  0.68SCACX Western Asset CaliforniaPairCorr
  0.87SCBCX Qs Servative GrowthPairCorr
  0.82SCGCX Qs Moderate GrowthPairCorr
  0.84SCHCX Qs Growth FundPairCorr

Related Correlations Analysis

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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   
GHVIX
+ 0.82
SGYAX
GHVIX
+ 0.74
TBGAX
PRVBX
+ 0.52
TBGAX
GHVIX
+ 0.48
PRVBX
SGYAX
+ 0.44
TBGAX
SGYAX
+ 0.37
PRVBX
  
High negative correlations   
SGYAX
- 0.16
MWCSX
GHVIX
- 0.1
MWCSX

Risk-Adjusted Indicators

There is a big difference between Clearbridge Mutual Fund performing well and Clearbridge Small 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 Small'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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