Floating Rate Correlations

LRRVX Fund

USD 8.08 0.01 0.12%

The current 90-days correlation between Floating Rate and Specialized Technology Fund is 0.08 (i.e., Significant diversification). The correlation of Floating Rate 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.

Floating Rate Correlation With Market

Good diversification

The correlation between Floating Rate Fund and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Floating Rate Fund 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 Floating Rate Fund. 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 Floating Mutual Fund

0.97	LFRAX	Floating Rate	Pair Corr
0.98	LFRFX	Floating Rate	Pair Corr
0.99	LFRIX	Floating Rate	Pair Corr
0.98	LFRRX	Lord Abbett Inv	Pair Corr
0.98	LFROX	Lord Abbett Floating	Pair Corr
0.72	HYMOX	Lord Abbett High	Pair Corr
0.73	HYMQX	Lord Abbett Short	Pair Corr
0.73	HYMAX	Lord Abbett High	Pair Corr
0.72	HYMCX	Lord Abbett High	Pair Corr
0.72	HYMFX	Lord Abbett High	Pair Corr
0.73	HYMIX	Lord Abbett High	Pair Corr

Related Correlations Analysis

	WFTDX	BSTSX	GITAX	WFTIX	SBHIX	BGSCX
WFTDX		0.93	0.97	1.0	0.06	0.77	WFTDX
BSTSX	0.93		0.98	0.93	-0.19	0.8	BSTSX
GITAX	0.97	0.98		0.97	-0.05	0.78	GITAX
WFTIX	1.0	0.93	0.97		0.06	0.77	WFTIX
SBHIX	0.06	-0.19	-0.05	0.06		-0.16	SBHIX
BGSCX	0.77	0.8	0.78	0.77	-0.16		BGSCX
	WFTDX	BSTSX	GITAX	WFTIX	SBHIX	BGSCX

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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

WFTIX	+ 1.0	WFTDX
GITAX	+ 0.98	BSTSX
GITAX	+ 0.97	WFTDX
WFTIX	+ 0.97	GITAX
BSTSX	+ 0.93	WFTDX
WFTIX	+ 0.93	BSTSX

High negative correlations

SBHIX	- 0.19	BSTSX
BGSCX	- 0.16	SBHIX
SBHIX	- 0.05	GITAX

Risk-Adjusted Indicators

There is a big difference between Floating Mutual Fund performing well and Floating Rate 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 Floating Rate'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
WFTDX	0.90	(0.10)	0.00	4.63	0.00	0.00	1.70	(2.00)	4.98
BSTSX	1.46	(0.19)	0.00	1.15	0.00	0.00	2.37	(3.59)	9.07
GITAX	1.21	(0.17)	0.00	1.20	0.00	0.00	1.73	(2.82)	7.57
WFTIX	0.89	(0.10)	0.00	4.17	0.00	0.00	1.72	(1.93)	4.88
SBHIX	0.62	0.04	0.15	9.22	0.67	(0.70)	1.20	(1.14)	3.37
BGSCX	1.48	(0.10)	0.00	(0.16)	0.00	0.00	2.37	(3.68)	9.08

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