Clearbridge Mid Correlations

Mutual Funds . USA . 
Fund . Clearbridge Mid Cap
LMREX Fund  USD 33.41  0.09  0.27%   
The current 90-days correlation between Clearbridge Mid Cap and Hartford International Equity is -0.1 (i.e., Good diversification). The correlation of Clearbridge Mid 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 Mid Correlation With Market

Very poor diversification

The correlation between Clearbridge Mid Cap and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Clearbridge Mid Cap 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 Mid Cap. 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 income.

Moving together with Clearbridge Mutual Fund

  0.75SAGCX Clearbridge AggressivePairCorr
  0.63LGASX Clearbridge Small CapPairCorr
  0.77LGFEX Qs International EquityPairCorr
  0.73SAPCX Clearbridge AppreciationPairCorr
  0.68LGOCX Legg Mason BwPairCorr
  0.66WAFRX Western Asset InflationPairCorr
  0.95WAHSX Western Asset HighPairCorr
  0.64WAPSX Western Asset EPairCorr
  0.76WAUCX Western Asset TotalPairCorr
  0.99SBSDX Qs Sp 500PairCorr
  0.96WAYRX Western Asset HighPairCorr
  0.75SCGCX Qs Moderate GrowthPairCorr
  0.94LIESX Qs International EquityPairCorr
  0.97LIORX Clearbridge InternationalPairCorr
  0.91SDSIX Western Asset GlobalPairCorr
  0.94ARMLX Western Asset AdjustablePairCorr
  0.94ARMGX Western Asset AdjustablePairCorr
  0.75LLLRX Qs Growth FundPairCorr
  0.75LLMRX Qs Moderate GrowthPairCorr
  0.75LMBMX Qs Small CapitalizationPairCorr
  0.99LMBCX Qs Small CapitalizationPairCorr
  0.94LMGEX Qs International EquityPairCorr
  0.93LMGFX Clearbridge InternationalPairCorr
  0.93LMGRX Clearbridge InternationalPairCorr
  0.99LMESX Clearbridge AppreciationPairCorr
  0.75LMISX Qs Large CapPairCorr
  0.74LMLRX Qs Defensive GrowthPairCorr
  0.99LMPIX Clearbridge AppreciationPairCorr
  0.99LMPLX Clearbridge Large CapPairCorr
  0.99LMPOX Clearbridge Small CapPairCorr
  0.65SGVSX Western Asset MortgagePairCorr
  0.75LMTIX Qs Large CapPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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