Clearbridge Appreciation Correlations

Mutual Funds . USA . 
Fund . Clearbridge Appreciation Fund
LMPIX Fund  USD 37.93  0.01  0.03%   
The current 90-days correlation between Clearbridge Appreciation and Hennessy Technology Fund is 0.86 (i.e., Very poor diversification). The correlation of Clearbridge Appreciation 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.

Clearbridge Appreciation Correlation With Market

Almost no diversification

The correlation between Clearbridge Appreciation Fund and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Clearbridge Appreciation Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Clearbridge Appreciation Fund. 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 gross domestic product.

Moving together with Clearbridge Mutual Fund

  0.99SAGCX Clearbridge AggressivePairCorr
  0.95LGASX Clearbridge Small CapPairCorr
  0.94LGFEX Qs International EquityPairCorr
  1.0SAPCX Clearbridge AppreciationPairCorr
  0.7LGOCX Legg Mason BwPairCorr
  0.84WAASX Western Asset TotalPairCorr
  0.98LGSCX Qs Small CapitalizationPairCorr
  0.66WACIX Western Asset EPairCorr
  0.73WACSX Western Asset EPairCorr
  0.69WABCX Western Asset EPairCorr
  0.69WABRX Western Asset EPairCorr
  0.8WABSX Western Asset IntermPairCorr
  0.93WAGIX Western Asset GlobalPairCorr
  0.83SSTLX Western Asset ShortPairCorr
  0.71WAFCX Western Asset InflationPairCorr
  0.73WAFSX Western Asset InflationPairCorr
  0.7WAFRX Western Asset InflationPairCorr
  0.98SBCLX Qs Defensive GrowthPairCorr
  0.97WAHSX Western Asset HighPairCorr
  0.62WAPCX Western Asset EPairCorr
  0.71WAPIX Western Asset EPairCorr
  0.69WAPSX Western Asset EPairCorr
  0.65WAPRX Western Asset EPairCorr
  0.96SBICX Clearbridge InternationalPairCorr
  0.84SBILX Western Asset PoratePairCorr
  0.82WARIX Western Asset TotalPairCorr
  0.73WATCX Western Asset IntermPairCorr
  0.76WATRX Western Asset IntermPairCorr
  0.71WATPX Western Asset InflationPairCorr
  0.99SBMLX Clearbridge Mid CapPairCorr
  0.99SBPLX Clearbridge DividendPairCorr
  0.8WAUCX Western Asset TotalPairCorr
  0.81WAURX Western Asset TotalPairCorr
  1.0SBSDX Qs Sp 500PairCorr
  0.97WAYRX Western Asset HighPairCorr
  1.0SCBCX Qs Servative GrowthPairCorr
  1.0SCGCX Qs Moderate GrowthPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Clearbridge Mutual Fund performing well and Clearbridge Appreciation 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 Clearbridge Appreciation'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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