Correlation Between Franklin Floating and Lord Abbett
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By analyzing existing cross correlation between Franklin Floating Rate and Lord Abbett Multi, you can compare the effects of market volatilities on Franklin Floating and Lord Abbett and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Franklin Floating with a short position of Lord Abbett. Check out your portfolio center. Please also check ongoing floating volatility patterns of Franklin Floating and Lord Abbett.
Diversification Opportunities for Franklin Floating and Lord Abbett
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Franklin and Lord is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Floating Rate and Lord Abbett Multi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lord Abbett Multi and Franklin Floating is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Franklin Floating Rate are associated (or correlated) with Lord Abbett. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lord Abbett Multi has no effect on the direction of Franklin Floating i.e., Franklin Floating and Lord Abbett go up and down completely randomly.
Pair Corralation between Franklin Floating and Lord Abbett
If you would invest (100.00) in Lord Abbett Multi on September 2, 2024 and sell it today you would earn a total of 100.00 from holding Lord Abbett Multi or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Franklin Floating Rate vs. Lord Abbett Multi
Performance |
| Timeline |
| Franklin Floating Rate |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Lord Abbett Multi |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Franklin Floating and Lord Abbett Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Franklin Floating and Lord Abbett
The main advantage of trading using opposite Franklin Floating and Lord Abbett positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Franklin Floating position performs unexpectedly, Lord Abbett can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Lord Abbett will offset losses from the drop in Lord Abbett's long position.| Franklin Floating vs. Franklin Floating Rate | Franklin Floating vs. Franklin Floating Rate | Franklin Floating vs. Franklin Floating Rate | Franklin Floating vs. KLP AksjeNorge Indeks |
| Lord Abbett vs. KLP AksjeNorge Indeks | Lord Abbett vs. Storebrand Global Solutions | Lord Abbett vs. Nordea 1 | Lord Abbett vs. Franklin Floating Rate |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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