L Abbett Correlations

Mutual Funds . USA . 
Fund . L Abbett Growth
LGLVX Fund  USD 45.34  0.34  0.76%   
The current 90-days correlation between L Abbett Growth and Dws Global Macro is -0.18 (i.e., Good 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 real.

Moving together with LGLVX Mutual Fund

  0.89LFSFX Lord Abbett FocusedPairCorr
  0.89LFVAX Lord Abbett FocusedPairCorr
  0.89LFVCX Lord Abbett FocusedPairCorr
  0.81LGCAX Lord Abbett GlobalPairCorr
  0.81LGCFX Lord Abbett GlobalPairCorr
  0.82LGCCX Lord Abbett GlobalPairCorr
  0.81LGCRX Lord Abbett GlobalPairCorr
  0.8LGCOX Lord Abbett GlobalPairCorr
  0.81LGCVX Lord Abbett GlobalPairCorr
  0.81LGCSX Lord Abbett GlobalPairCorr
  0.8LGCYX Lord Abbett GlobalPairCorr
  0.8LGCWX Lord Abbett GlobalPairCorr
  1.0LGLCX Lord Abbett GrowthPairCorr
  1.0LGLAX Lord Abbett GrowthPairCorr
  1.0LGLFX Lord Abbett GrowthPairCorr
  1.0LGLIX Lord Abbett GrowthPairCorr
  0.95LGLOX Lord Abbett GrowthPairCorr
  1.0LGLSX L Abbett GrowthPairCorr
  1.0LGLQX Lord Abbett GrowthPairCorr
  1.0LGLRX Lord Abbett GrowthPairCorr
  1.0LGLUX L Abbett GrowthPairCorr
  0.99LGOFX Lord Abbett GrowthPairCorr
  0.99LGOQX Lord Abbett GrowthPairCorr
  0.99LGORX Lord Abbett GrowthPairCorr
  0.99LGOPX Lord Abbett GrowthPairCorr

Moving against LGLVX Mutual Fund

  0.43HYMQX Lord Abbett ShortPairCorr
  0.42ELMFX Lord Abbett TrustPairCorr
  0.35ELMCX Lord Abbett TrustPairCorr
  0.53LGRAX Lord Abbett InvestmentPairCorr
  0.52LGRFX Lord Abbett InvestmentPairCorr
  0.52LGRYX Lord Abbett InvestmentPairCorr
  0.51LGRUX Lord Abbett InvestmentPairCorr
  0.42EMILX Lord Abbett EmergingPairCorr
  0.42EMOLX Lord Abbett TrustPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between LGLVX 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.

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