Western Asset Correlations

WATPX Fund

USD 9.24 0.01 0.11%

The current 90-days correlation between Western Asset Inflation and Vanguard Financials Index is -0.08 (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 Inflation and DJI is 0.02 (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 american community survey.

Moving together with Western Mutual Fund

0.74	LGFEX	Qs International Equity	Pair Corr
0.77	SSMMX	Western Asset Managed	Pair Corr
0.88	WAASX	Western Asset Total	Pair Corr
0.93	WACIX	Western Asset E	Pair Corr
0.95	WACSX	Western Asset E	Pair Corr
0.95	WABCX	Western Asset E	Pair Corr
0.95	WAFCX	Western Asset Inflation	Pair Corr
0.95	WAPIX	Western Asset E	Pair Corr
0.74	LMIRX	Qs International Equity	Pair Corr
0.83	SINLX	Western Asset Interm	Pair Corr
0.82	LSIUX	Clearbridge International	Pair Corr
0.94	LWACX	Western Asset E	Pair Corr
0.95	VIPSX	Vanguard Inflation	Pair Corr
0.94	VIPIX	Vanguard Inflation	Pair Corr
1.0	VAIPX	Vanguard Inflation-protec	Pair Corr
0.91	FLIBX	American Funds Inflation	Pair Corr
0.91	FIBLX	American Funds Inflation	Pair Corr
0.98	BFICX	American Funds Inflation	Pair Corr
0.92	BFIAX	American Funds Inflation	Pair Corr
0.98	BFIFX	American Funds Inflation	Pair Corr
0.94	PARRX	Real Return Fund	Pair Corr

Moving against Western Mutual Fund

0.62	LMISX	Qs Large Cap	Pair Corr
0.57	LGASX	Clearbridge Small Cap	Pair Corr
0.56	LMESX	Clearbridge Appreciation	Pair Corr
0.55	SCSMX	Clearbridge Small Cap	Pair Corr
0.52	LLLRX	Qs Growth Fund	Pair Corr
0.5	SBPLX	Clearbridge Dividend	Pair Corr
0.49	LGSCX	Qs Small Capitalization	Pair Corr
0.49	LMBMX	Qs Small Capitalization	Pair Corr
0.45	LLMRX	Qs Moderate Growth	Pair Corr
0.41	SCGCX	Qs Moderate Growth	Pair Corr
0.65	LMTIX	Qs Large Cap	Pair Corr
0.64	LMUSX	Qs Large Cap	Pair Corr
0.62	LBISX	Legg Mason Bw	Pair Corr
0.59	LMLSX	Clearbridge Large Cap	Pair Corr
0.56	LMOIX	Clearbridge Small Cap	Pair Corr
0.49	SMCPX	Clearbridge Mid Cap	Pair Corr
0.82	BITW	Bitwise 10 Crypto	Pair Corr
0.39	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr

Related Correlations Analysis

	VFAIX	FIKBX	IAAEX	ICFAX	FTIXX	RGFIX	XFINX
VFAIX		0.97	0.79	0.85	0.42	-0.17	0.67	VFAIX
FIKBX	0.97		0.72	0.89	0.44	-0.14	0.68	FIKBX
IAAEX	0.79	0.72		0.75	0.07	-0.13	0.37	IAAEX
ICFAX	0.85	0.89	0.75		0.38	-0.18	0.61	ICFAX
FTIXX	0.42	0.44	0.07	0.38		-0.26	0.84	FTIXX
RGFIX	-0.17	-0.14	-0.13	-0.18	-0.26		-0.38	RGFIX
XFINX	0.67	0.68	0.37	0.61	0.84	-0.38		XFINX
	VFAIX	FIKBX	IAAEX	ICFAX	FTIXX	RGFIX	XFINX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

FIKBX	+ 0.97	VFAIX
ICFAX	+ 0.89	FIKBX
ICFAX	+ 0.85	VFAIX
XFINX	+ 0.84	FTIXX
IAAEX	+ 0.79	VFAIX
ICFAX	+ 0.75	IAAEX

High negative correlations

XFINX	- 0.38	RGFIX
RGFIX	- 0.26	FTIXX
RGFIX	- 0.18	ICFAX
RGFIX	- 0.17	VFAIX
RGFIX	- 0.14	FIKBX
RGFIX	- 0.13	IAAEX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
VFAIX	0.76	0.10	0.15	0.16	0.54	(0.88)	1.77	(1.22)	8.51
FIKBX	0.82	0.24	0.17	(1.41)	0.57	(0.99)	1.88	(1.15)	9.76
IAAEX	0.52	(0.03)	(0.08)	0.05	0.53	(0.58)	1.03	(0.98)	3.17
ICFAX	0.70	0.09	(0.01)	(0.74)	0.79	(0.86)	1.25	(1.21)	4.73
FTIXX	0.03	0.01	0.00	(0.18)	0.00	0.00	0.00	0.00	1.01
RGFIX	0.39	(0.21)	0.00	14.52	0.00	0.00	0.00	0.00	12.95
XFINX	0.11	0.02	(0.15)	1.48	0.13	(0.13)	0.22	(0.14)	1.15

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