Lord Abbett Correlations

Mutual Funds . USA . 
Fund . Lord Abbett Convertible
LCFYX Fund  USD 14.44  0.14  0.96%   
The current 90-days correlation between Lord Abbett Convertible and Aqr Risk Parity is 0.71 (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

Weak diversification

The correlation between Lord Abbett Convertible and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lord Abbett Convertible and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Lord Abbett Convertible. 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

  0.69ELMFX Lord Abbett TrustPairCorr
  0.69ELMCX Lord Abbett TrustPairCorr
  0.76LGLSX L Abbett GrowthPairCorr
  0.65LHCCX Lord Abbett HealthPairCorr
  0.93LIGFX Lord Abbett DiversifiedPairCorr
  0.93LIXRX Lord Abbett DiversifiedPairCorr
  0.93ISFCX Lord Abbett MultiPairCorr
  0.9LBCQX Lord Abbett VertiblePairCorr
  0.84LBDFX Lord Abbett BondPairCorr
  0.71LSYIX Lord Abbett ShortPairCorr
  0.7LSYFX Lord Abbett ShortPairCorr
  0.74LSYNX Lord Abbett ShortPairCorr
  0.67LTFOX Lord Abbett AffiliatedPairCorr
  1.0LCFPX Lord Abbett VertiblePairCorr
  0.65FCSZX Franklin ConvertiblePairCorr
  0.65FCSKX Franklin ConvertiblePairCorr
  0.64FISCX Franklin ConvertiblePairCorr
  0.61FROTX Franklin ConvertiblePairCorr
  0.82ANZCX Allianzgi ConvertiblePairCorr
  0.84ANZAX Allianzgi ConvertiblePairCorr
  0.84ANNPX Allianzgi VertiblePairCorr
  0.75VAADX Virtus ConvertiblePairCorr
  0.88RRQPX American Funds RetirementPairCorr
  0.79TRIEX Tiaa Cref InternationalPairCorr

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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