Western Asset Correlations

Mutual Funds . USA . 
Fund . Western Asset Inflation
WAFAX Fund  USD 9.39  0.02  0.21%   
The current 90-days correlation between Western Asset Inflation and Health Care Ultrasector is 0.23 (i.e., Modest 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

Very good diversification

The correlation between Western Asset Inflation and DJI is -0.22 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Western Asset Inflation and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Western Asset Inflation. 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 nation.

Moving against Western Mutual Fund

  0.45TEGRX Templeton GrowthPairCorr
  0.35TEDRX Franklin Mutual GlobalPairCorr
  0.35TEMTX Franklin Mutual SharesPairCorr
  0.34TEBIX Franklin Mutual BeaconPairCorr
  0.34TEMEX Franklin Mutual BeaconPairCorr
  0.34TEMIX Franklin Mutual EuropeanPairCorr
  0.33PEYAX Putnam Equity IncomePairCorr
  0.32TEDSX Franklin Mutual GlobalPairCorr
  0.31TEMQX Mutual QuestPairCorr
  0.45SAGYX Clearbridge AggressivePairCorr
  0.43PFICX Putnam Floating RatePairCorr
  0.42PFLRX Putnam Floating RatePairCorr
  0.39LGGAX Clearbridge InternationalPairCorr
  0.38TESRX Franklin Mutual SharesPairCorr
  0.36TESIX Franklin Mutual SharesPairCorr
  0.34TEQIX Franklin Mutual QuestPairCorr
  0.34TEURX Franklin Mutual EuropeanPairCorr
  0.32SAIFX Clearbridge Large CapPairCorr
  0.31TESGX Templeton Global SmallerPairCorr
  0.45SAPYX Clearbridge AppreciationPairCorr
  0.44LGVAX Clearbridge Value TrustPairCorr
  0.43SASMX Clearbridge Small CapPairCorr
  0.36FQTEX Franklin Strategic SeriesPairCorr
  0.35TFEQX International EquityPairCorr

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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