Floating Rate Correlations

Mutual Funds . USA . 
Fund . Floating Rate Fund
LFRIX Fund  USD 8.01  0.01  0.12%   
The current 90-days correlation between Floating Rate and Dunham Porategovernment Bond is -0.06 (i.e., Good 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 0.84 (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 gross domestic product.

Moving together with Floating Mutual Fund

  0.68ELMFX Lord Abbett TrustPairCorr
  0.68ELMCX Lord Abbett TrustPairCorr
  0.88LFSFX Lord Abbett FocusedPairCorr
  0.99LFRAX Floating RatePairCorr
  0.99LFRFX Floating RatePairCorr
  0.99LFRRX Lord Abbett InvPairCorr
  0.99LFROX Lord Abbett FloatingPairCorr
  0.88LFVAX Lord Abbett FocusedPairCorr
  0.88LFVCX Lord Abbett FocusedPairCorr
  0.63HYMOX Lord Abbett HighPairCorr
  0.76HYMQX Lord Abbett ShortPairCorr
  0.62HYMAX Lord Abbett HighPairCorr
  0.62HYMFX 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
  0.68EMILX Lord Abbett EmergingPairCorr
  0.82LGOFX Lord Abbett GrowthPairCorr
  0.82LGOQX Lord Abbett GrowthPairCorr
  0.82LGORX Lord Abbett GrowthPairCorr
  0.82LGOPX 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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