Floating Rate Correlations

Mutual Funds . USA . 
Fund . Floating Rate Fund
LFRIX Fund  USD 8.03  0.02  0.25%   
The current 90-days correlation between Floating Rate and Vanguard Pennsylvania Long Term is 0.29 (i.e., Modest 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

Significant diversification

The correlation between Floating Rate Fund and DJI is 0.05 (i.e., Significant 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 gross domestic product.

Moving together with Floating Mutual Fund

  0.87ELMFX Lord Abbett TrustPairCorr
  0.87ELMCX Lord Abbett TrustPairCorr
  0.95LFRAX Floating RatePairCorr
  1.0LFRFX Floating RatePairCorr
  1.0LFRRX Lord Abbett InvPairCorr
  0.95LFROX Lord Abbett FloatingPairCorr
  0.88HYMOX Lord Abbett HighPairCorr
  0.93HYMQX Lord Abbett ShortPairCorr
  0.84HYMAX Lord Abbett HighPairCorr
  0.86HYMCX Lord Abbett HighPairCorr
  0.88HYMFX Lord Abbett HighPairCorr
  0.88HYMIX Lord Abbett HighPairCorr
  0.81LGCAX Lord Abbett GlobalPairCorr
  0.81LGCFX Lord Abbett GlobalPairCorr
  0.8LGCCX Lord Abbett GlobalPairCorr
  0.8LGCRX Lord Abbett GlobalPairCorr
  0.81LGCOX Lord Abbett GlobalPairCorr
  0.81LGCVX Lord Abbett GlobalPairCorr
  0.81LGCSX Lord Abbett GlobalPairCorr
  0.81LGCYX Lord Abbett GlobalPairCorr
  0.81LGCWX Lord Abbett GlobalPairCorr
  0.86LGLCX Lord Abbett GrowthPairCorr
  0.86LGLAX Lord Abbett GrowthPairCorr
  0.86LGLFX Lord Abbett GrowthPairCorr
  0.86LGLIX Lord Abbett GrowthPairCorr
  0.86LGLOX Lord Abbett GrowthPairCorr
  0.86LGLSX L Abbett GrowthPairCorr
  0.86LGLQX Lord Abbett GrowthPairCorr
  0.86LGLRX Lord Abbett GrowthPairCorr
  0.86LGLUX L Abbett GrowthPairCorr
  0.86LGLVX L Abbett GrowthPairCorr
  0.85EMILX Lord Abbett EmergingPairCorr
  0.88LGOFX Lord Abbett GrowthPairCorr
  0.88LGOQX Lord Abbett GrowthPairCorr
  0.88LGORX Lord Abbett GrowthPairCorr
  0.88LGOPX Lord Abbett GrowthPairCorr

Related Correlations Analysis


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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