Lord Abbett Correlations

HYMQX Fund

USD 14.35 0.02 0.14%

The current 90-days correlation between Lord Abbett Short and Limited Term Tax is 0.87 (i.e., Very 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

Very good diversification

The correlation between Lord Abbett Short and DJI is -0.38 (i.e., Very 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 Risk vs Return 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 producer price index.

Moving together with Lord Mutual Fund

0.69	LFRAX	Floating Rate	Pair Corr
0.71	LFRFX	Floating Rate	Pair Corr
0.7	LFRIX	Floating Rate	Pair Corr
0.69	LFRRX	Lord Abbett Inv	Pair Corr
0.71	LFROX	Lord Abbett Floating	Pair Corr
0.9	HYMFX	Lord Abbett High	Pair Corr
0.75	LGRUX	Lord Abbett Investment	Pair Corr
0.9	LHYOX	Lord Abbett High	Pair Corr
0.89	LHYSX	Lord Abbett High	Pair Corr
0.62	CFLIX	Victory Cemp 500	Pair Corr
0.65	CFLFX	Lord Abbett Climate	Pair Corr
0.65	LIGFX	Lord Abbett Diversified	Pair Corr
0.65	LIGQX	Lord Abbett Diversified	Pair Corr
0.85	LIFAX	Lord Abbett Inflation	Pair Corr

Moving against Lord Mutual Fund

0.51	LHCCX	Lord Abbett Health	Pair Corr
0.5	LHCAX	Lord Abbett Health	Pair Corr
0.5	LHCFX	Lord Abbett Health	Pair Corr
0.5	LHCSX	Lord Abbett Health	Pair Corr

Related Correlations Analysis

	LTEBX	TSDUX	MFIRX	RSHMX	PBBIX	PBXIX	MBSAX	BBINX
LTEBX		-0.32	0.71	0.94	0.21	-0.16	0.8	0.99	LTEBX
TSDUX	-0.32		0.13	-0.17	0.74	0.92	-0.21	-0.39	TSDUX
MFIRX	0.71	0.13		0.73	0.45	0.28	0.82	0.65	MFIRX
RSHMX	0.94	-0.17	0.73		0.33	0.01	0.82	0.94	RSHMX
PBBIX	0.21	0.74	0.45	0.33		0.76	0.25	0.15	PBBIX
PBXIX	-0.16	0.92	0.28	0.01	0.76		0.05	-0.22	PBXIX
MBSAX	0.8	-0.21	0.82	0.82	0.25	0.05		0.78	MBSAX
BBINX	0.99	-0.39	0.65	0.94	0.15	-0.22	0.78		BBINX
	LTEBX	TSDUX	MFIRX	RSHMX	PBBIX	PBXIX	MBSAX	BBINX

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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

BBINX	+ 0.99	LTEBX
RSHMX	+ 0.94	LTEBX
BBINX	+ 0.94	RSHMX
PBXIX	+ 0.92	TSDUX
MBSAX	+ 0.82	MFIRX
MBSAX	+ 0.82	RSHMX

High negative correlations

BBINX	- 0.39	TSDUX
TSDUX	- 0.32	LTEBX
BBINX	- 0.22	PBXIX
MBSAX	- 0.21	TSDUX
RSHMX	- 0.17	TSDUX
PBXIX	- 0.16	LTEBX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
LTEBX	0.09	0.00	(0.51)	0.10	0.12	(0.13)	0.20	(0.19)	0.78
TSDUX	0.04	0.01	0.00	1.16	0.00	0.00	0.10	0.00	0.10
MFIRX	0.09	0.01	(0.50)	(0.77)	0.00	(0.23)	0.19	(0.19)	0.76
RSHMX	0.24	0.02	(0.23)	(0.06)	0.37	(0.27)	0.42	(0.52)	1.98
PBBIX	0.12	0.01	(0.64)	0.23	0.00	(0.19)	0.29	(0.20)	0.98
PBXIX	0.32	0.04	(0.06)	0.22	0.00	(0.42)	0.87	(0.55)	1.94
MBSAX	0.21	(0.01)	(0.35)	0.07	0.23	(0.23)	0.37	(0.44)	1.48
BBINX	0.11	0.00	(0.44)	0.10	0.16	(0.18)	0.29	(0.29)	1.07

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