Legg Mason Correlations

Mutual Funds . USA . 
Fund . Legg Mason Bw
LGOCX Fund  USD 8.04  0.02  0.25%   
The current 90-days correlation between Legg Mason Bw and Gmo High Yield is 0.05 (i.e., Significant diversification). The correlation of Legg Mason 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.

Legg Mason Correlation With Market

Weak diversification

The correlation between Legg Mason Bw and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Legg Mason Bw 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 Legg Mason Bw. 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 main economic indicators.

Moving together with Legg Mutual Fund

  0.91SAGCX Clearbridge AggressivePairCorr
  0.81LGASX Clearbridge Small CapPairCorr
  0.91LGFEX Qs International EquityPairCorr
  0.89SAPCX Clearbridge AppreciationPairCorr
  0.61SSMMX Western Asset ManagedPairCorr
  0.81LGSCX Qs Small CapitalizationPairCorr
  0.79WACIX Western Asset EPairCorr
  0.62WACSX Western Asset EPairCorr
  0.86WAFCX Western Asset InflationPairCorr
  0.71WAPCX Western Asset EPairCorr
  0.69WAPSX Western Asset EPairCorr
  0.7SCGCX Qs Moderate GrowthPairCorr
  0.77LIESX Qs International EquityPairCorr
  0.8LISGX Clearbridge Small CapPairCorr
  0.68LLLRX Qs Growth FundPairCorr
  0.76LLMRX Qs Moderate GrowthPairCorr
  0.84LMBMX Qs Small CapitalizationPairCorr
  0.88LMESX Clearbridge AppreciationPairCorr
  0.81LMLCX Western Asset SmashPairCorr
  0.91LMLSX Clearbridge Large CapPairCorr
  0.75LMSMX Western Asset SmashPairCorr
  0.63MCECX Martin Currie EmergingPairCorr
  0.83SLCCX Clearbridge Large CapPairCorr
  0.8GOBFX Legg Mason BwPairCorr
  0.7LSITX Clearbridge Large CapPairCorr
  0.63LBDRX Legg Mason BwPairCorr
  0.87LBISX Legg Mason BwPairCorr
  0.87LCBVX Clearbridge Large CapPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Legg Mutual Fund performing well and Legg Mason 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 Legg Mason'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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