Western Assets Correlations

Mutual Funds . USA . 
Fund . Western Assets Emerging
XEMDX Fund  USD 11.20  0.03  0.27%   
The current 90-days correlation between Western Assets Emerging and Vanguard Total Stock is 0.44 (i.e., Very weak diversification). The correlation of Western Assets 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 Assets Correlation With Market

Good diversification

The correlation between Western Assets Emerging and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Western Assets Emerging 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 Assets Emerging. 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 commodities.

Moving together with Western Mutual Fund

  0.74VTSAX Vanguard Total StockPairCorr
  0.72VFIAX Vanguard 500 IndexPairCorr
  0.68VTSMX Vanguard Total StockPairCorr
  0.68VITSX Vanguard Total StockPairCorr
  0.74VSTSX Vanguard Total StockPairCorr
  0.74VSMPX Vanguard Total StockPairCorr
  0.72VFINX Vanguard 500 IndexPairCorr
  0.78VFFSX Vanguard 500 IndexPairCorr
  0.72VGTSX Vanguard Total InterPairCorr
  0.72VTIAX Vanguard Total InterPairCorr
  0.78FPXIX Fidelity Advisor 529PairCorr
  0.85GPICX Guidepath ConservativePairCorr
  0.76AXP American ExpressPairCorr
  0.64XOM Exxon Mobil CorpPairCorr
  0.71CSCO Cisco SystemsPairCorr
  0.7AA Alcoa CorpPairCorr
  0.71DD Dupont De NemoursPairCorr
  0.79IBM International BusinessPairCorr

Moving against Western Mutual Fund

  0.78BA BoeingPairCorr
  0.69T ATT IncPairCorr
  0.63DIS Walt DisneyPairCorr
  0.63VZ Verizon CommunicationsPairCorr
  0.63HD Home DepotPairCorr
  0.61PG Procter GamblePairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Western Mutual Fund performing well and Western Assets 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 Assets' 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
VTSAX  0.58  0.07  0.03  0.77  0.84 
(0.55)
 1.15 
(1.22)
 3.67 
VFIAX  0.57  0.03  0.02  0.07  0.79 
(0.55)
 1.23 
(1.17)
 3.55 
VTSMX  0.59  0.02  0.02  0.07  0.83 
(0.55)
 1.15 
(1.22)
 3.65 
VITSX  0.59  0.02  0.02  0.07  0.83 
(0.55)
 1.14 
(1.22)
 3.65 
VSTSX  0.58  0.07  0.03  0.77  0.83 
(0.55)
 1.15 
(1.22)
 3.66 
VSMPX  0.58  0.07  0.03  0.77  0.84 
(0.55)
 1.15 
(1.22)
 3.66 
VFINX  0.57  0.03  0.02  0.07  0.79 
(0.54)
 1.23 
(1.17)
 3.55 
VFFSX  0.56  0.08  0.04  0.85  0.79 
(0.54)
 1.23 
(1.17)
 3.55 
VGTSX  0.56  0.02  0.02  0.08  0.72 
(0.59)
 1.04 
(1.08)
 3.39 
VTIAX  0.56  0.03  0.02  0.08  0.72 
(0.59)
 1.03 
(1.10)
 3.37 

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