Lord Abbett Correlations

Mutual Funds . USA . 
Fund . Lord Abbett High
HYMAX Fund  USD 10.91  0.01  0.09%   
The current 90-days correlation between Lord Abbett High and Vanguard Ultra Short Term Bond is 0.1 (i.e., Average 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

Significant diversification

The correlation between Lord Abbett High and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lord Abbett High and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Lord Abbett High. 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 nation.

Moving together with Lord Mutual Fund

  0.98NHMAX Nuveen High YieldPairCorr
  0.97NHCCX Nuveen High YieldPairCorr
  0.98NHMRX Nuveen High YieldPairCorr
  0.98NHMFX Nuveen High YieldPairCorr
  0.99ABHFX American High IncomePairCorr
  0.99AHICX American High IncomePairCorr
  0.91AMHIX American High IncomePairCorr
  0.99GHYCX Goldman Sachs HighPairCorr
  0.99GHYAX Goldman Sachs HighPairCorr
  0.99ACTDX Invesco High YieldPairCorr
  0.77GPBFX Gmo E PlusPairCorr
  0.85WARCX Wells Fargo AdvantagePairCorr
  0.65HTD John Hancock TaxPairCorr
  0.78IBM International BusinessPairCorr
  0.65CSCO Cisco SystemsPairCorr
  0.74JNJ Johnson JohnsonPairCorr
  0.69KO Coca ColaPairCorr
  0.69VZ Verizon CommunicationsPairCorr
  0.68MCD McDonaldsPairCorr

Moving against Lord Mutual Fund

  0.77PQTNX Pimco Trends ManagedPairCorr
  0.77PQTIX Aa Pimco TrPairCorr
  0.72PQTAX Pimco Trends ManagedPairCorr
  0.51GPMFX Guidepath Managed FuturesPairCorr
  0.58MRK Merck CompanyPairCorr
  0.52MSFT MicrosoftPairCorr
  0.5CAT CaterpillarPairCorr

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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