Western Asset Correlations

Mutual Funds . USA . 
Fund . Western Asset E
WATFX Fund  USD 10.42  0.01  0.1%   
The current 90-days correlation between Western Asset E and Victory Rs Partners is 0.24 (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

Average diversification

The correlation between Western Asset E 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 E 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 E. 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 census.

Moving together with Western Mutual Fund

  0.63TEBIX Franklin Mutual BeaconPairCorr
  0.61TEDIX Franklin Mutual GlobalPairCorr
  0.61TEDSX Franklin Mutual GlobalPairCorr
  0.61TEDRX Franklin Mutual GlobalPairCorr
  0.61TEFTX Templeton ForeignPairCorr
  0.64TEGBX Templeton Global BondPairCorr
  0.68TEGRX Templeton GrowthPairCorr
  0.61TEMFX Templeton ForeignPairCorr
  0.73TEMGX Templeton Global SmallerPairCorr
  0.65TEMEX Franklin Mutual BeaconPairCorr
  0.67TEMWX Templeton WorldPairCorr
  0.67TEMQX Mutual QuestPairCorr
  0.78FQCTX Franklin Necticut TaxPairCorr
  0.77FQCHX Franklin Templeton SmacsPairCorr
  0.66TEQIX Franklin Mutual QuestPairCorr
  0.69TEPLX Templeton GrowthPairCorr
  0.72TWDAX Templeton WorldPairCorr
  0.74TESGX Templeton Global SmallerPairCorr
  0.74LGGAX Clearbridge InternationalPairCorr
  0.66LGIEX Qs International EquityPairCorr
  0.79FQLAX Franklin Louisiana TaxPairCorr
  0.66TEWTX Templeton WorldPairCorr
  0.64SAPYX Clearbridge AppreciationPairCorr
  0.68SASMX Clearbridge Small CapPairCorr
  0.79FQNCX Franklin North CarolinaPairCorr
  0.78FQMDX Franklin Maryland TaxPairCorr
  0.71WAARX Western Asset TotalPairCorr

Moving against Western Mutual Fund

  0.49WAADX Western Asset SmashPairCorr

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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