L Abbett Correlations

LGLUX Fund

USD 44.94 0.34 0.76%

The current 90-days correlation between L Abbett Growth and Global Diversified Income is 0.19 (i.e., Average diversification). The correlation of L 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.

L Abbett Correlation With Market

Very weak diversification

The correlation between L Abbett Growth and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding L Abbett Growth 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 L Abbett Growth. 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 employment.

Moving together with LGLUX Mutual Fund

0.91	LFSFX	Lord Abbett Focused	Pair Corr
0.91	LFVAX	Lord Abbett Focused	Pair Corr
0.9	LFVCX	Lord Abbett Focused	Pair Corr
0.83	LGCCX	Lord Abbett Global	Pair Corr
0.82	LGCRX	Lord Abbett Global	Pair Corr
0.8	LGCOX	Lord Abbett Global	Pair Corr
0.81	LGCVX	Lord Abbett Global	Pair Corr
1.0	LGLSX	L Abbett Growth	Pair Corr
1.0	LGLRX	Lord Abbett Growth	Pair Corr
0.99	LGOFX	Lord Abbett Growth	Pair Corr
0.99	LGOPX	Lord Abbett Growth	Pair Corr
0.99	LGOVX	Lord Abbett Growth	Pair Corr
0.99	LGOTX	Lord Abbett Growth	Pair Corr
0.91	LHCCX	Lord Abbett Health	Pair Corr
0.91	LHCSX	Lord Abbett Health	Pair Corr
0.91	LHCQX	Lord Abbett Health	Pair Corr
0.82	LHCTX	Lord Abbett Health	Pair Corr

Moving against LGLUX Mutual Fund

0.44	HYMQX	Lord Abbett Short	Pair Corr
0.38	ELMFX	Lord Abbett Trust	Pair Corr
0.37	ELMCX	Lord Abbett Trust	Pair Corr
0.62	LIDCX	Lord Abbett International	Pair Corr
0.62	LIDRX	Lord Abbett International	Pair Corr
0.62	LIRTX	Lord Abbett Intl	Pair Corr
0.61	LIDAX	Lord Abbett International	Pair Corr
0.51	LIFIX	Lord Abbett Inflation	Pair Corr
0.49	LIFAX	Lord Abbett Inflation	Pair Corr
0.49	LIFFX	Lord Abbett Inflation	Pair Corr
0.49	LIFKX	Lord Abbett Inflation	Pair Corr
0.46	LINFX	Lord Abbett International	Pair Corr
0.46	LINTX	L Abbett International	Pair Corr

Related Correlations Analysis

	PGBAX	HIIDX	CDBCX	ACDOX	ACBPX	MBLAX
PGBAX		0.92	0.95	0.96	0.96	0.76	PGBAX
HIIDX	0.92		0.86	0.88	0.88	0.68	HIIDX
CDBCX	0.95	0.86		0.99	1.0	0.6	CDBCX
ACDOX	0.96	0.88	0.99		1.0	0.61	ACDOX
ACBPX	0.96	0.88	1.0	1.0		0.61	ACBPX
MBLAX	0.76	0.68	0.6	0.61	0.61		MBLAX
	PGBAX	HIIDX	CDBCX	ACDOX	ACBPX	MBLAX

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Risk-Adjusted Indicators

There is a big difference between LGLUX Mutual Fund performing well and L 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 L 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PGBAX	0.14	0.01	0.40	0.13	0.07	(0.18)	0.34	(0.25)	0.85
HIIDX	0.63	0.08	0.12	0.08	0.82	(0.65)	1.27	(0.97)	5.23
CDBCX	0.23	0.01	0.24	0.27	0.22	(0.30)	0.56	(0.44)	1.34
ACDOX	0.24	0.02	0.27	0.35	0.21	(0.30)	0.55	(0.43)	1.46
ACBPX	0.24	0.02	0.27	0.34	0.20	(0.30)	0.56	(0.44)	1.23
MBLAX	0.27	0.00	0.00	(0.05)	0.00	0.00	0.62	(0.54)	1.51

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