Legg Mason Partners Fund Market Value
| QLMETX Fund | USD 24.67 0.07 0.28% |
| Symbol | Legg |
Please note, there is a significant difference between Legg Mason's value and its price as these two are different measures arrived at by different means. Investors typically determine if Legg Mason is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Legg Mason's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Legg Mason 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Legg Mason's fund what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Legg Mason.
| 11/06/2023 |
| 11/30/2024 |
If you would invest 0.00 in Legg Mason on November 6, 2023 and sell it all today you would earn a total of 0.00 from holding Legg Mason Partners or generate 0.0% return on investment in Legg Mason over 390 days. Legg Mason is related to or competes with Siit Ultra, Franklin Federal, The Short, Maryland Short-term, Aqr Sustainable, Jhancock Short, and Federated Ultrashort. Legg Mason is entity of United States. It is traded as Fund on NMFQS exchange. More
Legg Mason Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Legg Mason's fund current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Legg Mason Partners upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.5559 | |||
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 3.24 | |||
| Value At Risk | (0.87) | |||
| Potential Upside | 0.8822 |
Legg Mason Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Legg Mason's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Legg Mason's standard deviation. In reality, there are many statistical measures that can use Legg Mason historical prices to predict the future Legg Mason's volatility.| Risk Adjusted Performance | 0.1475 | |||
| Jensen Alpha | 0.018 | |||
| Total Risk Alpha | 0.0081 | |||
| Sortino Ratio | (0.03) | |||
| Treynor Ratio | 0.1521 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Legg Mason's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Legg Mason Partners Backtested Returns
At this stage we consider Legg Fund to be out of control. Legg Mason Partners has Sharpe Ratio of 0.2, which conveys that the entity had a 0.2% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Legg Mason, which you can use to evaluate the volatility of the fund. Please verify Legg Mason's Mean Deviation of 0.4738, risk adjusted performance of 0.1475, and Downside Deviation of 0.5559 to check out if the risk estimate we provide is consistent with the expected return of 0.12%. The fund secures a Beta (Market Risk) of 0.74, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, Legg Mason's returns are expected to increase less than the market. However, during the bear market, the loss of holding Legg Mason is expected to be smaller as well.
Auto-correlation | 0.86 |
Very good predictability
Legg Mason Partners has very good predictability. Overlapping area represents the amount of predictability between Legg Mason time series from 6th of November 2023 to 19th of May 2024 and 19th of May 2024 to 30th of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Legg Mason Partners price movement. The serial correlation of 0.86 indicates that approximately 86.0% of current Legg Mason price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.86 | |
| Spearman Rank Test | 0.87 | |
| Residual Average | 0.0 | |
| Price Variance | 0.95 |
Legg Mason Partners lagged returns against current returns
Autocorrelation, which is Legg Mason fund's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Legg Mason's fund expected returns. We can calculate the autocorrelation of Legg Mason returns to help us make a trade decision. For example, suppose you find that Legg Mason has exhibited high autocorrelation historically, and you observe that the fund is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Legg Mason regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Legg Mason fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Legg Mason fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Legg Mason fund over time.
Current vs Lagged Prices |
| Timeline |
Legg Mason Lagged Returns
When evaluating Legg Mason's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Legg Mason fund have on its future price. Legg Mason autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Legg Mason autocorrelation shows the relationship between Legg Mason fund current value and its past values and can show if there is a momentum factor associated with investing in Legg Mason Partners.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Other Information on Investing in Legg Fund
Legg Mason financial ratios help investors to determine whether Legg Fund is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Legg with respect to the benefits of owning Legg Mason security.
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