Lord Abbett Correlations

LLDYX Fund  USD 3.87  0.01  0.26%   
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

Good diversification

The correlation between Lord Abbett Short and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lord Abbett Short 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 Short. 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

  0.77LFRAX Floating RatePairCorr
  0.83LFRFX Floating RatePairCorr
  0.82LFRIX Floating RatePairCorr
  0.76LFRRX Lord Abbett InvPairCorr
  0.81LFROX Lord Abbett FloatingPairCorr
  0.68HYMOX Lord Abbett HighPairCorr
  0.86HYMQX Lord Abbett ShortPairCorr
  0.67HYMAX Lord Abbett HighPairCorr
  0.62HYMCX Lord Abbett HighPairCorr
  0.67HYMFX Lord Abbett HighPairCorr
  0.68HYMIX Lord Abbett HighPairCorr

Moving against Lord Mutual Fund

  0.73LFSFX Lord Abbett FocusedPairCorr
  0.73LFVAX Lord Abbett FocusedPairCorr
  0.73LFVCX Lord Abbett FocusedPairCorr
  0.61LGLCX Lord Abbett GrowthPairCorr
  0.61LGLAX Lord Abbett GrowthPairCorr
  0.61LGLFX Lord Abbett GrowthPairCorr
  0.61LGLIX Lord Abbett GrowthPairCorr
  0.61LGLSX L Abbett GrowthPairCorr
  0.61LGLQX Lord Abbett GrowthPairCorr
  0.61LGLRX Lord Abbett GrowthPairCorr
  0.61LGLUX L Abbett GrowthPairCorr
  0.57LGLOX Lord Abbett GrowthPairCorr
  0.61LGLVX L Abbett GrowthPairCorr
  0.57LGOFX Lord Abbett GrowthPairCorr
  0.57LGOQX Lord Abbett GrowthPairCorr
  0.57LGORX Lord Abbett GrowthPairCorr
  0.57LGOPX Lord Abbett GrowthPairCorr
  0.57LGOVX Lord Abbett GrowthPairCorr

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.