ClearBridge Large Correlations

LRGE Etf

USD 78.51 0.22 0.28%

The correlation of ClearBridge Large 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.

ClearBridge Large Correlation With Market

Weak diversification

The correlation between ClearBridge Large 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 Large 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 Large Cap. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with ClearBridge Etf

0.78	VUG	Vanguard Growth Index	Pair Corr
0.75	IWF	iShares Russell 1000	Pair Corr
0.73	IVW	iShares SP 500	Pair Corr
0.72	SPYG	SPDR Portfolio SP	Pair Corr
0.76	IUSG	iShares Core SP	Pair Corr
0.75	VONG	Vanguard Russell 1000	Pair Corr
0.74	MGK	Vanguard Mega Cap	Pair Corr
0.75	VRGWX	Vanguard Russell 1000	Pair Corr
0.78	QQQM	Invesco NASDAQ 100	Pair Corr
0.67	IWY	iShares Russell Top	Pair Corr
0.67	PMBS	PIMCO Mortgage Backed	Pair Corr

Related Correlations Analysis

	CACG	YLDE	JSML	JSMD	PSET
CACG		0.0	0.0	0.0	0.0	CACG
YLDE	0.0		0.88	0.78	0.62	YLDE
JSML	0.0	0.88		0.95	0.52	JSML
JSMD	0.0	0.78	0.95		0.48	JSMD
PSET	0.0	0.62	0.52	0.48		PSET
	CACG	YLDE	JSML	JSMD	PSET

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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

JSMD	+ 0.95	JSML
JSML	+ 0.88	YLDE
JSMD	+ 0.78	YLDE
PSET	+ 0.62	YLDE
PSET	+ 0.52	JSML
PSET	+ 0.48	JSMD

High negative correlations

PSET	- 0.0	CACG
JSMD	- 0.0	CACG
JSML	- 0.0	CACG
YLDE	- 0.0	CACG

ClearBridge Large Constituents Risk-Adjusted Indicators

There is a big difference between ClearBridge Etf performing well and ClearBridge Large ETF 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 Large'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	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
CACG	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
YLDE	0.48	0.00	0.00	0.66	(0.54)	0.97	(0.84)	3.52
JSML	0.91	(0.09)	(0.11)	0.00	0.00	1.61	(1.87)	5.83
JSMD	0.77	(0.08)	(0.12)	0.00	0.00	1.46	(1.55)	6.12
PSET	0.68	0.00	0.01	1.08	(0.61)	1.12	(1.85)	4.16

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