Western Asset Correlations

Mutual Funds . USA . 
Fund . Western Asset Oregon
SHORX Fund  USD 9.81  0.01  0.10%   
The current 90-days correlation between Western Asset Oregon and Pioneer High Yield is -0.15 (i.e., Good diversification). The correlation of Western Asset 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.

Western Asset Correlation With Market

Poor diversification

The correlation between Western Asset Oregon and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Western Asset Oregon 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 Western Asset Oregon. 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 real.

Moving together with Western Mutual Fund

  0.88PEYAX Putnam Equity IncomePairCorr
  0.86TEBIX Franklin Mutual BeaconPairCorr
  0.9TEDMX Templeton DevelopingPairCorr
  0.86TEDIX Franklin Mutual GlobalPairCorr
  0.84TEDSX Franklin Mutual GlobalPairCorr
  0.83TEDRX Franklin Mutual GlobalPairCorr
  0.9TEFRX Templeton ForeignPairCorr
  0.91TEFTX Templeton ForeignPairCorr
  0.78TEGBX Templeton Global BondPairCorr
  0.73TEGRX Templeton GrowthPairCorr
  0.91TEMFX Templeton ForeignPairCorr
  0.87TEMGX Templeton Global SmallerPairCorr
  0.86TEMEX Franklin Mutual BeaconPairCorr
  0.88TEMMX Templeton EmergingPairCorr
  0.88TEMIX Franklin Mutual EuropeanPairCorr
  0.78TEMWX Templeton WorldPairCorr
  0.84TEMTX Franklin Mutual SharesPairCorr
  0.9TEMQX Mutual QuestPairCorr
  0.95FQCTX Franklin Necticut TaxPairCorr
  0.84SAIFX Clearbridge Large CapPairCorr
  0.87TEMZX Templeton EmergingPairCorr
  0.88FQCHX Franklin Templeton SmacsPairCorr
  0.91FQEMX Franklin Templeton SmacsPairCorr
  0.9TEQIX Franklin Mutual QuestPairCorr
  0.84TEPLX Templeton GrowthPairCorr
  0.75TWDAX Templeton WorldPairCorr
  0.84TESIX Franklin Mutual SharesPairCorr
  0.85TESGX Templeton Global SmallerPairCorr
  0.83TESRX Franklin Mutual SharesPairCorr
  0.66PFLRX Putnam Floating RatePairCorr
  0.8LGGAX Clearbridge InternationalPairCorr
  0.87TEURX Franklin Mutual EuropeanPairCorr
  0.83LGIEX Qs International EquityPairCorr
  0.95FQLAX Franklin Louisiana TaxPairCorr
  0.72TEWTX Templeton WorldPairCorr
  0.67SAPYX Clearbridge AppreciationPairCorr
  0.73SASMX Clearbridge Small CapPairCorr
  0.97FQNCX Franklin North CarolinaPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Western Mutual Fund performing well and Western Asset 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 Western Asset'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.

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