Clearbridge Small Correlations

SASMX Fund

USD 35.54 0.25 0.70%

The correlation of Clearbridge Small 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 Small Correlation With Market

Good diversification

The correlation between Clearbridge Small Cap and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Clearbridge Small Cap and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Clearbridge Small 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 population.

Moving together with Clearbridge Mutual Fund

0.97	TEBIX	Franklin Mutual Beacon	Pair Corr
0.97	TEDMX	Templeton Developing	Pair Corr
0.85	TEDSX	Franklin Mutual Global	Pair Corr
0.85	TEDRX	Franklin Mutual Global	Pair Corr
0.87	TEFRX	Templeton Foreign	Pair Corr
0.96	TEFTX	Templeton Foreign	Pair Corr
0.82	TEGBX	Templeton Global Bond	Pair Corr
0.86	TEGRX	Templeton Growth	Pair Corr
0.97	TEMFX	Templeton Foreign	Pair Corr
0.96	TEMGX	Templeton Global Smaller	Pair Corr
0.86	TEMEX	Franklin Mutual Beacon	Pair Corr
0.96	TEMMX	Templeton Emerging	Pair Corr
0.94	TEMIX	Franklin Mutual European	Pair Corr
0.86	TEMWX	Templeton World	Pair Corr
0.86	TEMQX	Mutual Quest	Pair Corr
0.84	SAIFX	Clearbridge Large Cap	Pair Corr
0.87	SAGYX	Clearbridge Aggressive	Pair Corr
0.87	TEMZX	Templeton Emerging	Pair Corr
0.94	FQEMX	Franklin Templeton Smacs	Pair Corr
0.86	TEQIX	Franklin Mutual Quest	Pair Corr
0.86	TEPLX	Templeton Growth	Pair Corr
0.96	TWDAX	Templeton World	Pair Corr
0.97	TESIX	Franklin Mutual Shares	Pair Corr
0.84	TESGX	Templeton Global Smaller	Pair Corr
0.87	TESRX	Franklin Mutual Shares	Pair Corr
0.84	LGGAX	Clearbridge International	Pair Corr
0.83	TEURX	Franklin Mutual European	Pair Corr
0.76	LGIEX	Qs International Equity	Pair Corr
0.96	TEWTX	Templeton World	Pair Corr
0.74	WAARX	Western Asset Total	Pair Corr

Moving against Clearbridge Mutual Fund

0.4

FQMDX

Franklin Maryland Tax

Pair Corr

Related Correlations Analysis

	PBMXX	SEGXX	PRRXX	DVPXX	GMLXX	MGSXX	GFAXX
PBMXX		0.93	0.48	0.59	1.0	0.59	0.59	PBMXX
SEGXX	0.93		0.51	0.63	0.93	0.63	0.4	SEGXX
PRRXX	0.48	0.51		0.81	0.48	-0.04	-0.04	PRRXX
DVPXX	0.59	0.63	0.81		0.59	0.3	-0.05	DVPXX
GMLXX	1.0	0.93	0.48	0.59		0.59	0.59	GMLXX
MGSXX	0.59	0.63	-0.04	0.3	0.59		0.65	MGSXX
GFAXX	0.59	0.4	-0.04	-0.05	0.59	0.65		GFAXX
	PBMXX	SEGXX	PRRXX	DVPXX	GMLXX	MGSXX	GFAXX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

GMLXX	+ 1.0	PBMXX
SEGXX	+ 0.93	PBMXX
GMLXX	+ 0.93	SEGXX
DVPXX	+ 0.81	PRRXX
GFAXX	+ 0.65	MGSXX
DVPXX	+ 0.63	SEGXX

High negative correlations

GFAXX	- 0.05	DVPXX
GFAXX	- 0.04	PRRXX
MGSXX	- 0.04	PRRXX

Risk-Adjusted Indicators

There is a big difference between Clearbridge Mutual Fund performing well and Clearbridge Small 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 Small'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	Treynor Ratio	Maximum Drawdown
PBMXX	0.03	0.00	0.00	1.01
SEGXX	0.03	0.00	2.21	1.01
PRRXX	0.03	0.00	0.13	1.01
DVPXX	0.03	(0.01)	0.12	1.01
GMLXX	0.03	0.00	0.00	1.01
MGSXX	0.03	(0.02)	0.07	1.01
GFAXX	0.03	(0.01)	0.08	1.01

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