Lord Abbett Correlations

Mutual Funds . USA . 
Fund . Lord Abbett Short
HYMQX Fund  USD 14.09  0.01  0.07%   
The current 90-days correlation between Lord Abbett Short and Prudential Qma Large Cap is -0.49 (i.e., Very 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

Very good diversification

The correlation between Lord Abbett Short and DJI is -0.43 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lord Abbett Short and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Lord Abbett Short. 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 producer price index.

Moving together with Lord Mutual Fund

  0.92ELMFX Lord Abbett TrustPairCorr
  0.92ELMCX Lord Abbett TrustPairCorr
  0.94LFSFX Lord Abbett FocusedPairCorr
  0.95LFRAX Floating RatePairCorr
  0.95LFRFX Floating RatePairCorr
  0.95LFRIX Floating RatePairCorr
  0.95LFRRX Lord Abbett InvPairCorr
  0.95LFROX Lord Abbett FloatingPairCorr
  0.94LFVAX Lord Abbett FocusedPairCorr
  0.94LFVCX Lord Abbett FocusedPairCorr
  0.85HYMOX Lord Abbett HighPairCorr
  0.7HYMCX Lord Abbett HighPairCorr
  0.68HYMFX Lord Abbett HighPairCorr
  0.85HYMIX Lord Abbett HighPairCorr
  0.94LGCAX Lord Abbett GlobalPairCorr
  0.92LGCFX Lord Abbett GlobalPairCorr
  0.94LGCCX Lord Abbett GlobalPairCorr
  0.94LGCRX Lord Abbett GlobalPairCorr
  0.92LGCOX Lord Abbett GlobalPairCorr
  0.94LGCVX Lord Abbett GlobalPairCorr
  0.94LGCSX Lord Abbett GlobalPairCorr
  0.94LGCYX Lord Abbett GlobalPairCorr
  0.92LGCWX Lord Abbett GlobalPairCorr
  0.93LGLCX Lord Abbett GrowthPairCorr
  0.95LGLAX Lord Abbett GrowthPairCorr
  0.95LGLFX Lord Abbett GrowthPairCorr
  0.93LGLIX Lord Abbett GrowthPairCorr
  0.95LGLOX Lord Abbett GrowthPairCorr
  0.95LGLSX L Abbett GrowthPairCorr
  0.93LGLQX Lord Abbett GrowthPairCorr
  0.93LGLRX Lord Abbett GrowthPairCorr
  0.93LGLUX L Abbett GrowthPairCorr
  0.93LGLVX L Abbett GrowthPairCorr
  0.92EMILX Lord Abbett EmergingPairCorr
  0.91LGOFX Lord Abbett GrowthPairCorr
  0.91LGOQX Lord Abbett GrowthPairCorr
  0.91LGORX Lord Abbett GrowthPairCorr
  0.91LGOPX 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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