Clearbridge Small Correlations

Mutual Funds . USA . 
Fund . Clearbridge Small Cap
LMASX Fund  USD 35.61  0.46  1.31%   
The current 90-days correlation between Clearbridge Small Cap and Icon Information Technology 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

Very poor diversification

The correlation between Clearbridge Small Cap and DJI is 0.89 (i.e., Very poor 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 main economic indicators.

Moving together with Clearbridge Mutual Fund

  0.65SAGCX Clearbridge AggressivePairCorr
  0.91LGASX Clearbridge Small CapPairCorr
  0.83LGFEX Qs International EquityPairCorr
  0.79SAPCX Clearbridge AppreciationPairCorr
  0.77LGOCX Legg Mason BwPairCorr
  0.72SSMMX Western Asset ManagedPairCorr
  0.78WAASX Western Asset TotalPairCorr
  0.85LGSCX Qs Small CapitalizationPairCorr
  0.74WAGIX Western Asset GlobalPairCorr
  0.8SSTLX Western Asset ShortPairCorr
  0.78WAHSX Western Asset HighPairCorr
  0.63WAPCX Western Asset EPairCorr
  0.64WAPIX Western Asset EPairCorr
  0.64WAPRX Western Asset EPairCorr
  0.86SBICX Clearbridge InternationalPairCorr
  0.65SBILX Western Asset PoratePairCorr
  0.8WARIX Western Asset TotalPairCorr
  0.83SBMLX Clearbridge Mid CapPairCorr
  0.81WAUCX Western Asset TotalPairCorr
  0.8WAURX Western Asset TotalPairCorr
  0.78SBSDX Qs Sp 500PairCorr
  0.81WAYRX Western Asset HighPairCorr
  0.67SCACX Western Asset CaliforniaPairCorr
  0.81SCBCX Qs Servative GrowthPairCorr
  0.78SCGCX Qs Moderate GrowthPairCorr
  0.8SCHCX Qs Growth FundPairCorr

Related Correlations Analysis


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

JAGTX
+ 0.92
HTECX
JAGTX
+ 0.92
BSTSX
BSTSX
+ 0.8
HTECX
PGKCX
+ 0.77
BSTSX
ICTEX
+ 0.77
BSTSX
ICTEX
+ 0.75
JAGTX
  

High negative correlations

ICTEX
- 0.03
MTCCX

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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