Lord Abbett Correlations

LHYRX Fund  USD 6.46  0.01  0.16%   
The current 90-days correlation between Lord Abbett High and Putnman Retirement Ready is 0.56 (i.e., Very weak 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

Modest diversification

The correlation between Lord Abbett High and DJI is 0.21 (i.e., Modest 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 Correlation 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 metropolitan statistical area.

Moving together with Lord Mutual Fund

  0.67LFRAX Floating RatePairCorr
  0.68LFRFX Floating RatePairCorr
  0.67LFRIX Floating RatePairCorr
  0.67LFRRX Lord Abbett InvPairCorr
  0.66LFROX Lord Abbett FloatingPairCorr
  0.82HYMQX Lord Abbett ShortPairCorr
  0.67LGCAX Lord Abbett GlobalPairCorr
  0.67LGCFX Lord Abbett GlobalPairCorr
  0.64LGCCX Lord Abbett GlobalPairCorr
  0.66LGCRX Lord Abbett GlobalPairCorr
  0.68LGCOX Lord Abbett GlobalPairCorr
  0.68LGCVX Lord Abbett GlobalPairCorr
  0.67LGCSX Lord Abbett GlobalPairCorr
  0.67LGCYX Lord Abbett GlobalPairCorr
  0.67LGCWX Lord Abbett GlobalPairCorr
  0.77LGLCX Lord Abbett GrowthPairCorr
  0.77LGLAX Lord Abbett GrowthPairCorr
  0.76LGLFX Lord Abbett GrowthPairCorr
  0.77LGLIX Lord Abbett GrowthPairCorr
  0.76LGLOX Lord Abbett GrowthPairCorr
  0.77LGLSX L Abbett GrowthPairCorr
  0.77LGLQX Lord Abbett GrowthPairCorr
  0.77LGLRX Lord Abbett GrowthPairCorr
  0.77LGLUX L Abbett GrowthPairCorr
  0.76LGLVX L Abbett GrowthPairCorr
  0.81LGOFX Lord Abbett GrowthPairCorr
  0.81LGOQX Lord Abbett GrowthPairCorr
  0.81LGORX Lord Abbett GrowthPairCorr
  0.81LGOPX Lord Abbett GrowthPairCorr

Moving against Lord Mutual Fund

  0.37ELMCX Lord Abbett TrustPairCorr
  0.36ELMFX Lord Abbett TrustPairCorr
  0.34EMILX Lord Abbett EmergingPairCorr
  0.34EMOLX Lord Abbett TrustPairCorr
  0.34EMWLX Lord Abbett TrustPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.