Lord Abbett Correlations

Mutual Funds . USA . 
Fund . Lord Abbett Global
LGCYX Fund  USD 16.68  0.04  0.24%   
The current 90-days correlation between Lord Abbett Global and Qs Defensive Growth is 0.89 (i.e., Very 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

Poor diversification

The correlation between Lord Abbett Global and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lord Abbett Global 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 Global. 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

  0.65LFSFX Lord Abbett FocusedPairCorr
  0.65LFVAX Lord Abbett FocusedPairCorr
  0.64LFVCX Lord Abbett FocusedPairCorr
  1.0LGCAX Lord Abbett GlobalPairCorr
  1.0LGCFX Lord Abbett GlobalPairCorr
  1.0LGCCX Lord Abbett GlobalPairCorr
  1.0LGCRX Lord Abbett GlobalPairCorr
  1.0LGCOX Lord Abbett GlobalPairCorr
  1.0LGCVX Lord Abbett GlobalPairCorr
  1.0LGCSX Lord Abbett GlobalPairCorr
  1.0LGCWX Lord Abbett GlobalPairCorr
  0.8LGLCX Lord Abbett GrowthPairCorr
  0.8LGLAX Lord Abbett GrowthPairCorr
  0.81LGLFX Lord Abbett GrowthPairCorr
  0.81LGLIX Lord Abbett GrowthPairCorr
  0.81LGLOX Lord Abbett GrowthPairCorr
  0.8LGLSX L Abbett GrowthPairCorr
  0.8LGLQX Lord Abbett GrowthPairCorr
  0.8LGLRX Lord Abbett GrowthPairCorr
  0.81LGLUX L Abbett GrowthPairCorr
  0.81LGLVX L Abbett GrowthPairCorr
  0.81LGOFX Lord Abbett GrowthPairCorr
  0.81LGOQX Lord Abbett GrowthPairCorr
  0.81LGORX Lord Abbett GrowthPairCorr
  0.81LGOPX Lord Abbett GrowthPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
FGTZX
+ 0.93
LMLRX
AUERX
+ 0.93
MSSGX
AWPIX
+ 0.9
LMLRX
NSBCX
+ 0.89
FGTZX
FGTZX
+ 0.83
AWPIX
VDIGX
+ 0.81
LMLRX
  
High negative correlations   
PIGDX
- 0.21
MSSGX
PIGDX
- 0.14
AUERX

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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