ClearBridge Large Correlations

LRGE Etf

USD 79.03 0.57 0.72%

The current 90-days correlation between ClearBridge Large Cap and First Trust Exchange Traded is 0.92 (i.e., Almost no diversification). 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

Very good diversification

The correlation between ClearBridge Large Cap and DJI is -0.21 (i.e., Very good 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.

Build AI portfolio with ClearBridge Etf

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 census.

Moving together with ClearBridge Etf

0.97	VUG	Vanguard Growth Index	Pair Corr
0.96	IWF	iShares Russell 1000	Pair Corr
0.94	IVW	iShares SP 500	Pair Corr
0.94	SPYG	SPDR Portfolio SP	Pair Corr
0.9	IUSG	iShares Core SP	Pair Corr
0.96	VONG	Vanguard Russell 1000	Pair Corr
0.96	MGK	Vanguard Mega Cap	Pair Corr
0.96	VRGWX	Vanguard Russell 1000	Pair Corr
0.87	QQQM	Invesco NASDAQ 100	Pair Corr
0.95	IWY	iShares Russell Top	Pair Corr
0.82	PLTI	REX ETF Trust	Pair Corr

Moving against ClearBridge Etf

0.38	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.68	EMIF	iShares Emerging Markets	Pair Corr
0.61	IGEB	iShares Edge Investment	Pair Corr
0.6	VYMI	Vanguard International	Pair Corr
0.6	STXV	EA Series Trust	Pair Corr
0.58	FTCS	First Trust Capital	Pair Corr
0.56	DISV	Dimensional ETF Trust	Pair Corr
0.54	JEPI	JPMorgan Equity Premium	Pair Corr
0.51	UEVM	VictoryShares Emerging	Pair Corr
0.49	HEEM	iShares Currency Hedged	Pair Corr
0.43	DFE	WisdomTree Europe	Pair Corr
0.34	DOO	BRP Inc Symbol Change	Pair Corr
0.77	VDC	Vanguard Consumer Staples	Pair Corr
0.65	DXJ	WisdomTree Japan Hedged	Pair Corr
0.64	SPDV	AAM SP 500	Pair Corr
0.62	TAXT	Northern Trust Tax	Pair Corr
0.6	PID	Invesco International	Pair Corr
0.58	FIEE	FiEE Inc Symbol Change	Pair Corr

Related Correlations Analysis

	NUMG	BALI	JPRE	NUMV	ARKX	BRNY	TECB	PBW	DDM	QSPT
NUMG		-0.37	-0.83	-0.47	-0.09	0.27	0.93	-0.13	-0.28	0.46	NUMG
BALI	-0.37		0.56	0.88	0.79	0.73	-0.34	0.81	0.85	0.58	BALI
JPRE	-0.83	0.56		0.71	0.4	-0.05	-0.87	0.36	0.51	-0.23	JPRE
NUMV	-0.47	0.88	0.71		0.86	0.6	-0.54	0.8	0.91	0.32	NUMV
ARKX	-0.09	0.79	0.4	0.86		0.73	-0.18	0.93	0.81	0.56	ARKX
BRNY	0.27	0.73	-0.05	0.6	0.73		0.27	0.74	0.75	0.86	BRNY
TECB	0.93	-0.34	-0.87	-0.54	-0.18	0.27		-0.13	-0.31	0.54	TECB
PBW	-0.13	0.81	0.36	0.8	0.93	0.74	-0.13		0.79	0.64	PBW
DDM	-0.28	0.85	0.51	0.91	0.81	0.75	-0.31	0.79		0.47	DDM
QSPT	0.46	0.58	-0.23	0.32	0.56	0.86	0.54	0.64	0.47		QSPT
	NUMG	BALI	JPRE	NUMV	ARKX	BRNY	TECB	PBW	DDM	QSPT

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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

TECB	+ 0.93	NUMG
PBW	+ 0.93	ARKX
DDM	+ 0.91	NUMV
NUMV	+ 0.88	BALI
ARKX	+ 0.86	NUMV
QSPT	+ 0.86	BRNY

High negative correlations

TECB	- 0.87	JPRE
JPRE	- 0.83	NUMG
TECB	- 0.54	NUMV
NUMV	- 0.47	NUMG
BALI	- 0.37	NUMG
TECB	- 0.34	BALI

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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
NUMG	0.98	(0.01)	0.00	0.13	0.00	0.00	1.86	(2.47)	5.52
BALI	0.43	0.04	0.00	0.15	0.42	(0.49)	0.87	(0.81)	2.78
JPRE	0.56	0.10	0.05	0.46	0.74	(0.57)	1.33	(1.26)	3.40
NUMV	0.60	0.07	0.09	0.17	0.50	(0.68)	1.46	(1.26)	3.50
ARKX	1.80	0.22	0.12	0.24	1.83	(2.07)	3.73	(3.47)	10.06
BRNY	0.67	0.00	(0.02)	0.08	0.82	(0.71)	1.24	(1.55)	3.65
TECB	0.81	(0.11)	0.00	(0.04)	0.00	0.00	1.69	(1.93)	4.64
PBW	1.87	0.06	0.05	0.11	2.21	(1.97)	3.67	(4.45)	11.81
DDM	1.16	0.00	0.05	0.08	1.38	(1.20)	2.56	(2.54)	8.26
QSPT	0.49	(0.01)	(0.06)	0.07	0.60	(0.48)	1.14	(1.08)	3.00

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