Floating Rate Correlations

Mutual Funds . USA . 
Fund . Floating Rate Fund
LFRFX Fund  USD 8.00  0.01  0.12%   
The current 90-days correlation between Floating Rate and Great West Loomis Sayles is 0.04 (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

Very poor diversification

The correlation between Floating Rate Fund and DJI is 0.82 (i.e., Very poor 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 price.

Moving together with Floating Mutual Fund

  0.69ELMFX Lord Abbett TrustPairCorr
  0.69ELMCX Lord Abbett TrustPairCorr
  0.85LFSFX Lord Abbett FocusedPairCorr
  0.99LFRAX Floating RatePairCorr
  0.99LFRIX Floating RatePairCorr
  0.99LFRRX Lord Abbett InvPairCorr
  0.99LFROX Lord Abbett FloatingPairCorr
  0.85LFVAX Lord Abbett FocusedPairCorr
  0.85LFVCX Lord Abbett FocusedPairCorr
  0.63HYMOX Lord Abbett HighPairCorr
  0.75HYMQX Lord Abbett ShortPairCorr
  0.63HYMAX Lord Abbett HighPairCorr
  0.63HYMFX Lord Abbett HighPairCorr
  0.81LGCAX Lord Abbett GlobalPairCorr
  0.81LGCFX Lord Abbett GlobalPairCorr
  0.8LGCCX Lord Abbett GlobalPairCorr
  0.81LGCRX Lord Abbett GlobalPairCorr
  0.81LGCOX Lord Abbett GlobalPairCorr
  0.81LGCVX Lord Abbett GlobalPairCorr
  0.81LGCSX Lord Abbett GlobalPairCorr
  0.81LGCYX Lord Abbett GlobalPairCorr
  0.81LGCWX Lord Abbett GlobalPairCorr
  0.69EMILX Lord Abbett EmergingPairCorr
  0.84LGOFX Lord Abbett GrowthPairCorr
  0.84LGOQX Lord Abbett GrowthPairCorr
  0.84LGORX Lord Abbett GrowthPairCorr
  0.84LGOPX Lord Abbett GrowthPairCorr

Related Correlations Analysis


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.

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