Clearbridge Appreciation Correlations

SHAPX Fund

USD 38.29 0.13 0.34%

The current 90-days correlation between Clearbridge Appreciation and Franklin Mutual Global is 0.64 (i.e., Poor diversification). The correlation of Clearbridge Appreciation 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 Appreciation Correlation With Market

Very poor diversification

The correlation between Clearbridge Appreciation Fund and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Clearbridge Appreciation Fund and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Clearbridge Appreciation Fund. 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 american community survey.

Moving together with Clearbridge Mutual Fund

0.61	TEBIX	Franklin Mutual Beacon	Pair Corr
0.95	TEMTX	Franklin Mutual Shares	Pair Corr
0.96	SAIFX	Clearbridge Large Cap	Pair Corr
0.98	SAGYX	Clearbridge Aggressive	Pair Corr
0.87	TWDAX	Templeton World	Pair Corr
0.95	TESIX	Franklin Mutual Shares	Pair Corr
0.95	TESRX	Franklin Mutual Shares	Pair Corr
0.86	TEWTX	Templeton World	Pair Corr
0.94	SASMX	Clearbridge Small Cap	Pair Corr
0.85	WAADX	Western Asset Smash	Pair Corr
0.73	FQTEX	Franklin Strategic Series	Pair Corr
0.68	SBCPX	Qs Defensive Growth	Pair Corr
0.97	FRAAX	Franklin Growth Oppo	Pair Corr

Moving against Clearbridge Mutual Fund

0.73	TEGBX	Templeton Global Bond	Pair Corr
0.52	TEURX	Franklin Mutual European	Pair Corr
0.51	TEMIX	Franklin Mutual European	Pair Corr
0.46	LGGAX	Clearbridge International	Pair Corr
0.43	TEFTX	Templeton Foreign	Pair Corr
0.42	TEFRX	Templeton Foreign	Pair Corr
0.42	TEMFX	Templeton Foreign	Pair Corr
0.41	TEMZX	Templeton Emerging	Pair Corr
0.73	WABAX	Western Asset E	Pair Corr
0.73	WATFX	Western Asset E	Pair Corr
0.71	WACPX	Western Asset E	Pair Corr
0.62	WAFAX	Western Asset Inflation	Pair Corr
0.61	WAIIX	Western Asset Inflation	Pair Corr
0.54	SBIEX	Clearbridge International	Pair Corr
0.47	SBLTX	Western Asset Interm	Pair Corr
0.42	TFFAX	Templeton Foreign	Pair Corr
0.41	TFEQX	International Equity	Pair Corr
0.41	FRCTX	Franklin California Tax	Pair Corr

Related Correlations Analysis

	TEDIX	FKGRX	FKDNX	FRSTX
TEDIX		0.19	0.06	0.41	TEDIX
FKGRX	0.19		0.97	-0.47	FKGRX
FKDNX	0.06	0.97		-0.58	FKDNX
FRSTX	0.41	-0.47	-0.58		FRSTX
	TEDIX	FKGRX	FKDNX	FRSTX

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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

FKDNX	+ 0.97	FKGRX
FRSTX	+ 0.41	TEDIX
FKGRX	+ 0.19	TEDIX
FKDNX	+ 0.06	TEDIX

High negative correlations

FRSTX	- 0.58	FKDNX
FRSTX	- 0.47	FKGRX

Risk-Adjusted Indicators

There is a big difference between Clearbridge Mutual Fund performing well and Clearbridge Appreciation 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 Appreciation'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
TEDIX	0.51	(0.08)	(0.18)	0.00	0.65	(0.51)	1.13	(1.05)	2.77
FKGRX	0.63	(0.04)	(0.06)	0.07	0.85	(0.61)	1.39	(1.49)	4.23
FKDNX	0.92	(0.02)	(0.01)	0.10	1.32	(0.93)	1.78	(2.53)	6.08
FRSTX	0.15	(0.01)	0.00	0.56	0.00	0.00	0.24	(0.36)	1.20

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