Clearbridge Small Correlations

Mutual Funds . USA . 
Fund . Clearbridge Small Cap
SASMX Fund  USD 35.53  0.35  0.99%   
The current 90-days correlation between Clearbridge Small Cap and T Rowe Price is 0.6 (i.e., Poor diversification). 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

Poor diversification

The correlation between Clearbridge Small Cap and DJI is 0.69 (i.e., Poor 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

  0.99VSGAX Vanguard Small CapPairCorr
  0.99VSGIX Vanguard Small CapPairCorr
  0.99VISGX Vanguard Small CapPairCorr
  0.99VEXPX Vanguard ExplorerPairCorr
  0.99VEXRX Vanguard ExplorerPairCorr
  0.98JGMIX Janus TritonPairCorr
  0.98JGMRX Janus TritonPairCorr
  0.98JGMCX Janus TritonPairCorr
  0.98JGMNX Janus TritonPairCorr
  0.8FSMMX Fs Multi StrategyPairCorr
  0.92BTMPX Ishares Msci EafePairCorr
  0.91BTMKX Blackrock InternationalPairCorr
  0.91MDIIX Blackrock Intern IndexPairCorr
  0.98FDEGX Fidelity Growth StraPairCorr
  0.62DQIYX Dreyfus Equity IncomePairCorr
  0.91PSHAX Short Term FundPairCorr
  0.92RIVKX American Funds InterPairCorr
  0.65CAT CaterpillarPairCorr
  0.61DIS Walt DisneyPairCorr
  0.66CVX Chevron CorpPairCorr
  0.73IBM International BusinessPairCorr

Moving against Clearbridge Mutual Fund

  0.32TRV The Travelers CompaniesPairCorr

Related Correlations Analysis

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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.

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