Lord Abbett Correlations

ALFYX Fund  USD 27.39  0.02  0.07%   
The current 90-days correlation between Lord Abbett Alpha and T Rowe Price is 0.61 (i.e., Poor diversification). The correlation of Lord Abbett 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.

Lord Abbett Correlation With Market

LordDowDiversified AwayLordDowDiversified Away100%

Very weak diversification

The correlation between Lord Abbett Alpha and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lord Abbett Alpha and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Lord Abbett Alpha. 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 manufacturing.

Moving together with Lord Mutual Fund

  0.83LFSFX Lord Abbett FocusedPairCorr
  0.81LFVAX Lord Abbett FocusedPairCorr
  0.82LFVCX Lord Abbett FocusedPairCorr
  0.66HYMOX Lord Abbett HighPairCorr
  0.68HYMAX Lord Abbett HighPairCorr
  0.72HYMCX Lord Abbett HighPairCorr
  0.68HYMFX Lord Abbett HighPairCorr
  0.66HYMIX Lord Abbett HighPairCorr

Moving against Lord Mutual Fund

  0.54LFRAX Floating RatePairCorr
  0.54LFRFX Floating RatePairCorr
  0.54LFRIX Floating RatePairCorr
  0.54LFROX Lord Abbett FloatingPairCorr
  0.53LFRRX Lord Abbett InvPairCorr
  0.57LGRYX Lord Abbett InvestmentPairCorr
  0.56LGRAX Lord Abbett InvestmentPairCorr
  0.56LGRFX Lord Abbett InvestmentPairCorr
  0.55LGRUX Lord Abbett InvestmentPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Lord Mutual Fund performing well and Lord Abbett 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 Lord Abbett'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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