Clearbridge Small Correlations

Mutual Funds USA . 
Fund . Clearbridge Small Cap
LMASX Fund  USD 40.02  0.75  1.91%   
The current 90-days correlation between Clearbridge Small Cap and Clearbridge Aggressive Growth is 0.72 (i.e., Poor 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 0.82 (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 state.

Moving together with Clearbridge Mutual Fund

  0.94SAGCX Clearbridge AggressivePairCorr
  1.0LGASX Clearbridge Small CapPairCorr
  0.94SAPCX Clearbridge AppreciationPairCorr
  0.99LGSCX Qs Small CapitalizationPairCorr
  0.65WAHSX Western Asset HighPairCorr
  0.95SBMLX Clearbridge Mid CapPairCorr
  0.9SBPLX Clearbridge DividendPairCorr
  0.92SBSDX Qs Sp 500PairCorr
  0.61WAYRX Western Asset HighPairCorr
  0.85SCBCX Qs Servative GrowthPairCorr
  0.91SCGCX Qs Moderate GrowthPairCorr

Moving against Clearbridge Mutual Fund

  0.75LGOCX Legg Mason BwPairCorr
  0.73WABCX Western Asset EPairCorr
  0.73WABRX Western Asset EPairCorr
  0.73WAPIX Western Asset EPairCorr
  0.72WACSX Western Asset EPairCorr
  0.71WATCX Western Asset IntermPairCorr
  0.71WATRX Western Asset IntermPairCorr
  0.7WABSX Western Asset IntermPairCorr
  0.7WAPCX Western Asset EPairCorr
  0.7WAPRX Western Asset EPairCorr
  0.69WACIX Western Asset EPairCorr
  0.69WAPSX Western Asset EPairCorr
  0.65WAFCX Western Asset InflationPairCorr
  0.65SBILX Western Asset PoratePairCorr
  0.64WAFRX Western Asset InflationPairCorr
  0.62WAFSX Western Asset InflationPairCorr
  0.59SBICX Clearbridge InternationalPairCorr
  0.56LGFEX Qs International EquityPairCorr
  0.46SSTLX Western Asset ShortPairCorr
  0.38SSMMX Western Asset ManagedPairCorr
  0.37WARIX Western Asset TotalPairCorr
  0.35WAASX Western Asset TotalPairCorr
  0.7LMBSX Western Asset MortgagePairCorr
  0.63WATPX Western Asset InflationPairCorr
  0.58LIORX Clearbridge InternationalPairCorr
  0.56LIESX Qs International EquityPairCorr
  0.52SCACX Western Asset CaliforniaPairCorr
  0.46LMAOX Legg Mason BwPairCorr
  0.45SBYLX Western Asset NewPairCorr
  0.43WAUCX Western Asset TotalPairCorr
  0.42LMAQX Legg Mason BwPairCorr
  0.4WAURX Western Asset TotalPairCorr
  0.37LMAMX Legg Mason BwPairCorr

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   
WACSX
+ 1.0
WACIX
SAPCX
+ 0.98
SAGCX
LGSCX
+ 0.98
LGASX
WACSX
+ 0.98
LGOCX
WACIX
+ 0.97
LGOCX
LGASX
+ 0.94
SAGCX
  
High negative correlations   
LGOCX
- 0.8
SAGCX
LGOCX
- 0.76
SAPCX
LGOCX
- 0.76
LGASX
WACSX
- 0.75
SAGCX
WACIX
- 0.74
SAGCX
WACSX
- 0.72
SAPCX

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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SAGCX  0.75  0.04  0.04  0.15  0.86 
(0.77)
 1.56 
(1.39)
 4.84 
LGASX  0.83  0.03  0.06  0.14  0.71 
(0.95)
 1.91 
(1.41)
 5.76 
LGFEX  0.66 (0.15) 0.00 (0.15) 0.00 
 0.00 
 1.22 
(1.33)
 4.02 
SAPCX  0.51 (0.01)(0.05) 0.10  0.63 
(0.55)
 1.02 
(1.30)
 3.92 
LGOCX  0.36 (0.09) 0.00  1.88  0.00 
 0.00 
 0.68 
(0.84)
 2.04 
SSMMX  0.16  0.01 (0.42) 0.04  0.24 
(0.20)
 0.33 
(0.27)
 1.53 
WAASX  0.13 (0.01)(0.60)(0.12) 0.14 
(0.18)
 0.33 
(0.33)
 0.77 
LGSCX  0.98 (0.03) 0.04  0.10  0.96 
(1.11)
 2.18 
(1.74)
 8.08 
WACIX  0.24 (0.04) 0.00  0.87  0.00 
 0.00 
 0.43 
(0.54)
 1.41 
WACSX  0.23 (0.03) 0.00  0.60  0.00 
 0.00 
 0.47 
(0.57)
 1.33 

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