Lord Abbett Correlations

Mutual Funds . USA . 
Fund . Lord Abbett Alpha
ALFTX Fund  USD 27.76  0.32  1.17%   
The current 90-days correlation between Lord Abbett Alpha and Icon Information Technology is 0.63 (i.e., Poor 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

Weak diversification

The correlation between Lord Abbett Alpha and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lord Abbett Alpha and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Lord Abbett Alpha. 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 estimate.

Moving together with Lord Mutual Fund

  0.79LFSFX Lord Abbett FocusedPairCorr
  0.76LFVAX Lord Abbett FocusedPairCorr
  0.77LFVCX Lord Abbett FocusedPairCorr
  0.69HYMOX Lord Abbett HighPairCorr
  0.69HYMAX Lord Abbett HighPairCorr
  0.7HYMCX Lord Abbett HighPairCorr
  0.73HYMFX Lord Abbett HighPairCorr
  0.69HYMIX Lord Abbett HighPairCorr
  0.72LGCAX Lord Abbett GlobalPairCorr
  0.72LGCFX Lord Abbett GlobalPairCorr
  0.74LGCCX Lord Abbett GlobalPairCorr
  0.72LGCRX Lord Abbett GlobalPairCorr
  0.71LGCOX Lord Abbett GlobalPairCorr
  0.71LGCVX Lord Abbett GlobalPairCorr
  0.72LGCSX Lord Abbett GlobalPairCorr
  0.71LGCYX Lord Abbett GlobalPairCorr
  0.71LGCWX Lord Abbett GlobalPairCorr
  0.67LGOFX Lord Abbett GrowthPairCorr
  0.67LGOQX Lord Abbett GrowthPairCorr
  0.67LGORX Lord Abbett GrowthPairCorr
  0.67LGOPX Lord Abbett GrowthPairCorr

Related Correlations Analysis

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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   
ICTEX
+ 0.89
ICTTX
RAGTX
+ 0.89
GISTX
DTEYX
+ 0.85
GISTX
DTEYX
+ 0.71
TOWTX
TOWTX
+ 0.66
GISTX
DTEYX
+ 0.64
RAGTX
  
High negative correlations   
RAGTX
- 0.24
ICTTX
RAGTX
- 0.23
ICTEX

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.

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