Western Asset Correlations

Mutual Funds . USA . 
Fund . Western Asset Short Term
SSTLX Fund  USD 3.67  0.00  0.00%   
The current 90-days correlation between Western Asset Short and Vanguard Short Term Investment Grade is -0.17 (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

Significant diversification

The correlation between Western Asset Short Term and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Western Asset Short Term 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 Short Term. 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 bureau of economic analysis.

Moving together with Western Mutual Fund

  0.8SSMMX Western Asset ManagedPairCorr
  0.85WAASX Western Asset TotalPairCorr
  0.73WACIX Western Asset EPairCorr
  0.71WACSX Western Asset EPairCorr
  0.68WABCX Western Asset EPairCorr
  0.74WABRX Western Asset EPairCorr
  0.84WABSX Western Asset IntermPairCorr
  0.86WAGIX Western Asset GlobalPairCorr
  0.8WAFCX Western Asset InflationPairCorr
  0.78WAFSX Western Asset InflationPairCorr
  0.76WAFRX Western Asset InflationPairCorr
  0.67WAPCX Western Asset EPairCorr
  0.69WAPIX Western Asset EPairCorr
  0.69WAPSX Western Asset EPairCorr
  0.68WAPRX Western Asset EPairCorr
  0.83SBILX Western Asset PoratePairCorr
  0.85WARIX Western Asset TotalPairCorr
  0.82WATCX Western Asset IntermPairCorr
  0.81WATRX Western Asset IntermPairCorr
  0.77WATPX Western Asset InflationPairCorr
  0.83WAUCX Western Asset TotalPairCorr
  0.85WAURX Western Asset TotalPairCorr
  0.72SBYLX Western Asset NewPairCorr
  0.79SCACX Western Asset CaliforniaPairCorr

Moving against Western Mutual Fund

  0.31LGASX Clearbridge Small CapPairCorr
  0.32SCSMX Clearbridge Small CapPairCorr
  0.31LISGX Clearbridge Small CapPairCorr
  0.31LMASX Clearbridge Small CapPairCorr

Related Correlations Analysis

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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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