Lord Abbett Correlations

Mutual Funds . USA . 
Fund . Lord Abbett Micro Cap
LMIYX Fund  USD 22.84  0.02  0.09%   
The current 90-days correlation between Lord Abbett Micro and Driehaus Micro Cap is 0.88 (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 Micro Cap and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lord Abbett Micro Cap 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 Micro Cap. 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

  0.89LFSFX Lord Abbett Focused Potential GrowthPairCorr
  0.84LFRAX Floating RatePairCorr
  0.82LFRFX Floating RatePairCorr
  0.82LFRIX Floating RatePairCorr
  0.83LFRRX Lord Abbett InvPairCorr
  0.83LFROX Lord Abbett FloatingPairCorr
  0.88LFVAX Lord Abbett FocusedPairCorr
  0.88LFVCX Lord Abbett FocusedPairCorr
  0.83LGCAX Lord Abbett GlobalPairCorr
  0.83LGCFX Lord Abbett GlobalPairCorr
  0.78LGCCX Lord Abbett GlobalPairCorr
  0.83LGCRX Lord Abbett GlobalPairCorr
  0.84LGCOX Lord Abbett GlobalPairCorr
  0.83LGCVX Lord Abbett GlobalPairCorr
  0.84LGCYX Lord Abbett GlobalPairCorr
  0.8LGCWX Lord Abbett GlobalPairCorr
  0.94LGLCX Lord Abbett GrowthPairCorr
  0.92LGLAX Lord Abbett GrowthPairCorr
  0.92LGLFX Lord Abbett GrowthPairCorr
  0.94LGLOX Lord Abbett GrowthPairCorr
  0.92LGLSX L Abbett GrowthPairCorr
  0.94LGLQX Lord Abbett GrowthPairCorr
  0.94LGLRX Lord Abbett GrowthPairCorr
  0.94LGLUX L Abbett GrowthPairCorr
  0.94LGLVX L Abbett GrowthPairCorr
  0.95LGOFX Lord Abbett GrowthPairCorr
  0.95LGOQX Lord Abbett GrowthPairCorr
  0.95LGORX Lord Abbett GrowthPairCorr
  0.95LGOPX Lord Abbett GrowthPairCorr
  0.95LGOVX Lord Abbett GrowthPairCorr
  0.95LGOTX Lord Abbett GrowthPairCorr

Moving against Lord Mutual Fund

  0.64LIDAX Lord Abbett InternationalPairCorr
  0.64LIDFX Lord Abbett InternationalPairCorr
  0.49LICTX Lord Abbett IntlPairCorr

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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