Western Asset Correlations

Mutual Funds . USA . 
Fund . Western Asset Intermediate
WATCX Fund  USD 9.62  0.01  0.10%   
The current 90-days correlation between Western Asset Interm and Calvert High Yield is 0.45 (i.e., Very weak 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

Average diversification

The correlation between Western Asset Intermediate and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Western Asset Intermediate 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 Intermediate. 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 main economic indicators.

Moving together with Western Mutual Fund

  0.71LGFEX Qs International EquityPairCorr
  0.93LGOCX Legg Mason BwPairCorr
  0.78SSMMX Western Asset ManagedPairCorr
  0.88WAASX Western Asset TotalPairCorr
  0.97WACIX Western Asset EPairCorr
  0.96WACSX Western Asset EPairCorr
  0.96WABCX Western Asset EPairCorr
  0.99WABRX Western Asset EPairCorr
  1.0WABSX Western Asset IntermPairCorr
  0.62WAGIX Western Asset GlobalPairCorr
  0.82SSTLX Western Asset ShortPairCorr
  0.97WAFCX Western Asset InflationPairCorr
  0.95WAFSX Western Asset InflationPairCorr
  0.94WAPCX Western Asset EPairCorr
  0.96WAPIX Western Asset EPairCorr
  0.95WAPSX Western Asset EPairCorr
  0.95WAPRX Western Asset EPairCorr
  0.78SBICX Clearbridge InternationalPairCorr
  0.89WARIX Western Asset TotalPairCorr
  1.0WATRX Western Asset IntermPairCorr
  0.95WATPX Western Asset InflationPairCorr
  0.92WAUCX Western Asset TotalPairCorr
  0.91WAURX Western Asset TotalPairCorr
  0.82SBYLX Western Asset NewPairCorr
  0.87SCACX Western Asset CaliforniaPairCorr
  0.72LIESX Qs International EquityPairCorr

Moving against Western Mutual Fund

  0.66LGASX Clearbridge Small CapPairCorr
  0.65SAGCX Clearbridge AggressivePairCorr
  0.63SAPCX Clearbridge AppreciationPairCorr
  0.57LGSCX Qs Small CapitalizationPairCorr
  0.66LISGX Clearbridge Small CapPairCorr
  0.63SCSMX Clearbridge Small CapPairCorr
  0.57SBMLX Clearbridge Mid CapPairCorr
  0.57SBPLX Clearbridge DividendPairCorr
  0.56SCHCX Qs Growth FundPairCorr
  0.5SCGCX Qs Moderate GrowthPairCorr
  0.33SCBCX Qs Servative GrowthPairCorr

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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