Western Asset Correlations

Mutual Funds USA . 
Fund . Western Asset Inflation
WAFRX Fund  USD 9.21  0.01  0.11%   
The current 90-days correlation between Western Asset Inflation and Us Government Securities is 0.86 (i.e., Very poor 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 Inflation and DJI is 0.06 (i.e., Significant 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 population.

Moving together with Western Mutual Fund

  0.67WABCX Western Asset EPairCorr
  0.62WABRX Western Asset EPairCorr
  0.98WAFCX Western Asset InflationPairCorr
  0.99WAFSX Western Asset InflationPairCorr
  0.62WAPCX Western Asset EPairCorr
  0.63WAPRX Western Asset EPairCorr
  0.71SBILX Western Asset PoratePairCorr
  0.99WATPX Western Asset InflationPairCorr

Moving against Western Mutual Fund

  0.47SAPCX Clearbridge AppreciationPairCorr
  0.43LGFEX Qs International EquityPairCorr
  0.43SBICX Clearbridge InternationalPairCorr
  0.41SAGCX Clearbridge AggressivePairCorr
  0.4LGASX Clearbridge Small CapPairCorr
  0.4LGSCX Qs Small CapitalizationPairCorr
  0.35WAHSX Western Asset HighPairCorr
  0.56ARMLX Western Asset AdjustablePairCorr
  0.49ARMGX Western Asset AdjustablePairCorr
  0.46SCSMX Clearbridge Small CapPairCorr
  0.44LMASX Clearbridge Small CapPairCorr
  0.43LIESX Qs International EquityPairCorr
  0.43LIORX Clearbridge InternationalPairCorr
  0.4LMBMX Qs Small CapitalizationPairCorr
  0.4LMARX Clearbridge Small CapPairCorr
  0.4LMBCX Qs Small CapitalizationPairCorr
  0.39SBMLX Clearbridge Mid CapPairCorr
  0.39LISGX Clearbridge Small CapPairCorr
  0.33WAYRX Western Asset HighPairCorr

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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