Lord Abbett Correlations

Mutual Funds . USA . 
Fund . Lord Abbett Growth
LGLRX Fund  USD 45.49  0.40  0.87%   
The current 90-days correlation between Lord Abbett Growth and California High Yield Municipal is -0.18 (i.e., Good 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 Growth and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lord Abbett Growth 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 Growth. 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 metropolitan statistical area.

Moving together with Lord Mutual Fund

  0.87LFSFX Lord Abbett FocusedPairCorr
  0.9LFRAX Floating RatePairCorr
  0.89LFRFX Floating RatePairCorr
  0.88LFRIX Floating RatePairCorr
  0.89LFRRX Lord Abbett InvPairCorr
  0.89LFROX Lord Abbett FloatingPairCorr
  0.86LFVAX Lord Abbett FocusedPairCorr
  0.86LFVCX Lord Abbett FocusedPairCorr
  0.83LGCAX Lord Abbett GlobalPairCorr
  0.83LGCFX Lord Abbett GlobalPairCorr
  0.82LGCCX Lord Abbett GlobalPairCorr
  0.82LGCRX Lord Abbett GlobalPairCorr
  0.84LGCOX Lord Abbett GlobalPairCorr
  0.83LGCVX Lord Abbett GlobalPairCorr
  0.83LGCSX Lord Abbett GlobalPairCorr
  0.83LGCYX Lord Abbett GlobalPairCorr
  0.83LGCWX Lord Abbett GlobalPairCorr
  1.0LGLCX Lord Abbett GrowthPairCorr
  1.0LGLAX Lord Abbett GrowthPairCorr
  1.0LGLFX Lord Abbett GrowthPairCorr
  1.0LGLIX Lord Abbett GrowthPairCorr
  1.0LGLOX Lord Abbett GrowthPairCorr
  1.0LGLSX L Abbett GrowthPairCorr
  1.0LGLQX Lord Abbett GrowthPairCorr
  1.0LGLUX L Abbett GrowthPairCorr
  1.0LGLVX L Abbett GrowthPairCorr
  0.99LGOFX Lord Abbett GrowthPairCorr
  0.99LGOQX Lord Abbett GrowthPairCorr
  0.99LGORX Lord Abbett GrowthPairCorr
  0.99LGOPX Lord Abbett GrowthPairCorr

Related Correlations Analysis

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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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