Western Asset Premier Bond Fund (WEA) — Stock Correlations & Overview
Over the past year, WEA has moved most closely with HYI, DFP, EHI. Explore the stocks most correlated and inversely correlated with WEA below, along with its price, financials, and company profile.
Stocks correlated with WEA
Correlation of daily returns. Higher positive values move with WEA; negative values move opposite it. Informational only, not investment advice.
Most correlated with WEA
| Symbol | Company | Correlation |
|---|---|---|
| HYI | Western Asset High Yield Opportunity Fund Inc. | 0.56 |
| DFP | FLAHERTY & CRUMRINE DYNAMIC PREFERRED AND INCOME FUND INCORPORATED | 0.52 |
| EHI | Western Asset Global High Income Fund, Inc | 0.50 |
| HIX | Western Asset High Income Fund II, Inc. | 0.50 |
| EAD | Allspring Income Opportunities Fund | 0.50 |
Frequently asked questions about WEA correlations
- Which stocks are most correlated with WEA?
- Based on one year of daily returns, the stocks most correlated with Western Asset Premier Bond Fund (WEA) are HYI (0.56), DFP (0.52) and EHI (0.50). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with WEA?
- Over the past year, the stocks most inversely correlated with Western Asset Premier Bond Fund (WEA) are EFZ (-0.44), SJB (-0.41) and EPV (-0.41). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these WEA correlations calculated?
- We compute the correlation of daily returns between WEA and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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