Lord Abbett Correlations

Mutual Funds . USA . 
Fund . Lord Abbett Convertible
LCFYX Fund  USD 14.87  0.05  0.34%   
The current 90-days correlation between Lord Abbett Convertible and Volumetric Fund Volumetric is 0.8 (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

Poor diversification

The correlation between Lord Abbett Convertible and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lord Abbett Convertible 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 Convertible. 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

  0.88LFSFX Lord Abbett FocusedPairCorr
  0.85LFRAX Floating RatePairCorr
  0.85LFRFX Floating RatePairCorr
  0.83LFRIX Floating RatePairCorr
  0.84LFRRX Lord Abbett InvPairCorr
  0.85LFROX Lord Abbett FloatingPairCorr
  0.87LFVAX Lord Abbett FocusedPairCorr
  0.87LFVCX Lord Abbett FocusedPairCorr
  0.76LGCAX Lord Abbett GlobalPairCorr
  0.76LGCFX Lord Abbett GlobalPairCorr
  0.74LGCCX Lord Abbett GlobalPairCorr
  0.75LGCRX Lord Abbett GlobalPairCorr
  0.76LGCOX Lord Abbett GlobalPairCorr
  0.76LGCVX Lord Abbett GlobalPairCorr
  0.76LGCYX Lord Abbett GlobalPairCorr
  0.76LGCWX Lord Abbett GlobalPairCorr
  0.98LGLCX Lord Abbett GrowthPairCorr
  0.98LGLAX Lord Abbett GrowthPairCorr
  0.98LGLFX Lord Abbett GrowthPairCorr
  0.98LGLIX Lord Abbett GrowthPairCorr
  0.98LGLSX L Abbett GrowthPairCorr
  0.98LGLQX Lord Abbett GrowthPairCorr
  0.98LGLUX L Abbett GrowthPairCorr
  0.98LGLVX L Abbett GrowthPairCorr
  0.98LGOFX Lord Abbett GrowthPairCorr
  0.98LGORX Lord Abbett GrowthPairCorr
  0.98LGOPX Lord Abbett GrowthPairCorr
  0.98LGOVX Lord Abbett GrowthPairCorr
  0.98LGOSX Lord Abbett GrowthPairCorr
  0.98LGOTX Lord Abbett GrowthPairCorr
  0.81LGRUX Lord Abbett InvestmentPairCorr

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.

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