Lord Abbett Correlations
| LDLTX Fund | USD 3.82 0.00 0.00% |
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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Lord Abbett moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Lord Abbett Short moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Average diversification
The correlation between Lord Abbett Short and NYA is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lord Abbett Short and NYA in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Lord Abbett could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Lord Abbett when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Lord Abbett - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Lord Abbett Short to buy it.
Moving together with Lord Mutual Fund
| 0.63 | ELMFX | Lord Abbett Trust | PairCorr |
| 0.67 | ELMCX | Lord Abbett Trust | PairCorr |
| 0.75 | LFRAX | Floating Rate | PairCorr |
| 0.72 | LFRFX | Floating Rate | PairCorr |
| 0.72 | LFRIX | Floating Rate | PairCorr |
| 0.73 | LFRRX | Lord Abbett Inv | PairCorr |
| 0.75 | LFROX | Lord Abbett Floating | PairCorr |
| 0.67 | HYMOX | Lord Abbett High | PairCorr |
| 0.76 | HYMQX | Lord Abbett Short | PairCorr |
| 0.67 | HYMAX | Lord Abbett High | PairCorr |
| 0.62 | HYMFX | Lord Abbett High | PairCorr |
| 0.67 | HYMIX | Lord Abbett High | PairCorr |
Related Correlations Analysis
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Be your own money manager
Our tools can tell you how much better you can do entering a position in Lord Abbett without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Already Invested in Lord Abbett Short?
The danger of trading Lord Abbett Short is mainly related to its market volatility and Mutual Fund specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Lord Abbett is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Lord Abbett. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Lord Abbett Short is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Correlation 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 tightly coupled with the direction of predictive economic indicators such as signals in estimate. You can also try the Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.