Clearbridge Mid Correlations

LSIRX Fund

USD 40.34 0.43 1.05%

The current 90-days correlation between Clearbridge Mid Cap and Ivy Natural Resources 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 weak diversification

The correlation between Clearbridge Mid Cap and DJI is 0.4 (i.e., Very weak 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 real.

Moving together with Clearbridge Mutual Fund

0.71	SAGCX	Clearbridge Aggressive	Pair Corr
0.68	LGASX	Clearbridge Small Cap	Pair Corr
0.96	SBMLX	Clearbridge Mid Cap	Pair Corr

Moving against Clearbridge Mutual Fund

0.65	SSMMX	Western Asset Managed	Pair Corr
0.47	WAGIX	Western Asset Global	Pair Corr
0.39	SSTLX	Western Asset Short	Pair Corr
0.38	WABSX	Western Asset Interm	Pair Corr
0.34	WAASX	Western Asset Total	Pair Corr
0.72	ARMLX	Western Asset Adjustable	Pair Corr
0.66	SCACX	Western Asset California	Pair Corr
0.62	ARMGX	Western Asset Adjustable	Pair Corr
0.61	SBYLX	Western Asset New	Pair Corr
0.49	SDSIX	Western Asset Global	Pair Corr
0.36	WATRX	Western Asset Interm	Pair Corr

Related Correlations Analysis

	IGNAX	VENAX	DNLAX	FIKAX	FRNRX
IGNAX		0.41	0.86	0.4	0.95	IGNAX
VENAX	0.41		0.6	0.79	0.59	VENAX
DNLAX	0.86	0.6		0.66	0.93	DNLAX
FIKAX	0.4	0.79	0.66		0.58	FIKAX
FRNRX	0.95	0.59	0.93	0.58		FRNRX
	IGNAX	VENAX	DNLAX	FIKAX	FRNRX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
IGNAX	0.84	0.18	0.08	2.49	1.11	(0.86)	1.62	(2.10)	5.41
VENAX	0.85	0.01	(0.02)	0.10	1.04	(0.86)	1.65	(1.46)	4.81
DNLAX	0.91	0.11	0.04	0.92	1.18	(0.96)	1.83	(2.29)	5.14
FIKAX	0.63	0.05	(0.01)	0.62	0.79	(0.83)	1.60	(1.32)	4.65
FRNRX	0.78	0.14	0.07	1.03	1.04	(0.80)	1.60	(1.93)	4.74

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