Floating Rate Correlations

Mutual Funds USA . 
Fund . Floating Rate Fund
LRRTX Fund  USD 8.19  0.01  0.12%   
The current 90-days correlation between Floating Rate and Lord Abbett Trust is -0.39 (i.e., Very 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

Good diversification

The correlation between Floating Rate Fund and DJI is -0.16 (i.e., Good 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 estimate.

Moving together with Floating Mutual Fund

  0.64LFSFX Lord Abbett FocusedPairCorr
  1.0LFRAX Floating RatePairCorr
  1.0LFRFX Floating RatePairCorr
  1.0LFRIX Floating RatePairCorr
  1.0LFRRX Lord Abbett InvPairCorr
  1.0LFROX Lord Abbett FloatingPairCorr
  0.63LFVAX Lord Abbett FocusedPairCorr
  0.62LFVCX Lord Abbett FocusedPairCorr
  0.71HYMQX Lord Abbett ShortPairCorr
  0.65LGCAX Lord Abbett GlobalPairCorr
  0.65LGCFX Lord Abbett GlobalPairCorr
  0.63LGCCX Lord Abbett GlobalPairCorr
  0.65LGCRX Lord Abbett GlobalPairCorr
  0.66LGCOX Lord Abbett GlobalPairCorr
  0.65LGCVX Lord Abbett GlobalPairCorr
  0.65LGCSX Lord Abbett GlobalPairCorr
  0.66LGCYX Lord Abbett GlobalPairCorr
  0.66LGCWX Lord Abbett GlobalPairCorr
  0.87LGLCX Lord Abbett GrowthPairCorr
  0.87LGLAX Lord Abbett GrowthPairCorr
  0.87LGLFX Lord Abbett GrowthPairCorr
  0.87LGLIX Lord Abbett GrowthPairCorr
  0.87LGLOX Lord Abbett GrowthPairCorr
  0.87LGLSX L Abbett GrowthPairCorr
  0.87LGLQX Lord Abbett GrowthPairCorr
  0.87LGLRX Lord Abbett GrowthPairCorr
  0.87LGLUX L Abbett GrowthPairCorr
  0.87LGLVX L Abbett GrowthPairCorr
  0.88LGOFX Lord Abbett GrowthPairCorr
  0.88LGOQX Lord Abbett GrowthPairCorr
  0.88LGORX Lord Abbett GrowthPairCorr
  0.88LGOPX Lord Abbett GrowthPairCorr

Moving against Floating Mutual Fund

  0.47LHCCX Lord Abbett HealthPairCorr
  0.45LHCAX Lord Abbett HealthPairCorr
  0.44LHCFX Lord Abbett HealthPairCorr
  0.44LHCIX Lord Abbett HealthPairCorr
  0.43LHCOX Lord Abbett HealthPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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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