Martin Currie Correlations

MCECX Fund

USD 12.39 0.09 0.73%

The current 90-days correlation between Martin Currie Emerging and Clearbridge Aggressive Growth is 0.44 (i.e., Very weak diversification). The correlation of Martin Currie 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.

Martin Currie Correlation With Market

Modest diversification

The correlation between Martin Currie Emerging and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Martin Currie Emerging 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 Martin Currie Emerging. 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 against Martin Mutual Fund

0.64	LMAOX	Legg Mason Bw	Pair Corr
0.58	LMAMX	Legg Mason Bw	Pair Corr

Related Correlations Analysis

	SAGCX	LGASX	LGFEX	SAPCX	LGOCX	SSMMX	WAASX	LGSCX	WACIX	WACSX
SAGCX		0.95	-0.58	0.93	-0.81	-0.25	-0.32	0.95	-0.72	-0.75	SAGCX
LGASX	0.95		-0.61	0.9	-0.75	-0.18	-0.25	0.98	-0.63	-0.7	LGASX
LGFEX	-0.58	-0.61		-0.61	0.83	0.37	0.54	-0.54	0.72	0.77	LGFEX
SAPCX	0.93	0.9	-0.61		-0.77	-0.2	-0.29	0.89	-0.68	-0.72	SAPCX
LGOCX	-0.81	-0.75	0.83	-0.77		0.59	0.77	-0.7	0.97	0.97	LGOCX
SSMMX	-0.25	-0.18	0.37	-0.2	0.59		0.82	-0.15	0.73	0.67	SSMMX
WAASX	-0.32	-0.25	0.54	-0.29	0.77	0.82		-0.19	0.86	0.81	WAASX
LGSCX	0.95	0.98	-0.54	0.89	-0.7	-0.15	-0.19		-0.58	-0.64	LGSCX
WACIX	-0.72	-0.63	0.72	-0.68	0.97	0.73	0.86	-0.58		0.96	WACIX
WACSX	-0.75	-0.7	0.77	-0.72	0.97	0.67	0.81	-0.64	0.96		WACSX
	SAGCX	LGASX	LGFEX	SAPCX	LGOCX	SSMMX	WAASX	LGSCX	WACIX	WACSX

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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

LGSCX	+ 0.98	LGASX
WACIX	+ 0.97	LGOCX
WACSX	+ 0.97	LGOCX
WACSX	+ 0.96	WACIX
LGASX	+ 0.95	SAGCX
LGSCX	+ 0.95	SAGCX

High negative correlations

LGOCX	- 0.81	SAGCX
LGOCX	- 0.77	SAPCX
LGOCX	- 0.75	LGASX
WACSX	- 0.75	SAGCX
WACSX	- 0.72	SAPCX
WACIX	- 0.72	SAGCX

Risk-Adjusted Indicators

There is a big difference between Martin Mutual Fund performing well and Martin Currie 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 Martin Currie'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
SAGCX	0.74	0.03	0.04	0.14	0.88	(0.74)	1.56	(1.39)	4.84
LGASX	0.80	0.02	0.04	0.13	0.74	(0.89)	1.86	(1.41)	5.76
LGFEX	0.66	(0.13)	0.00	(0.15)	0.00	0.00	1.22	(1.33)	4.02
SAPCX	0.51	0.10	(0.03)	(3.59)	0.63	(0.54)	1.02	(1.30)	3.92
LGOCX	0.38	(0.07)	0.00	1.29	0.00	0.00	0.68	(0.84)	2.04
SSMMX	0.17	0.02	(0.33)	(0.11)	0.20	(0.23)	0.40	(0.27)	1.53
WAASX	0.14	0.00	(0.50)	0.13	0.09	(0.18)	0.33	(0.33)	0.77
LGSCX	0.93	(0.03)	0.02	0.09	0.98	(1.02)	1.94	(1.74)	8.08
WACIX	0.25	(0.02)	0.00	0.50	0.00	0.00	0.43	(0.54)	1.41
WACSX	0.26	(0.04)	0.00	(0.39)	0.00	0.00	0.47	(0.66)	1.61

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