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Correlation Between Performance Trust and Lord Abbett

Analyzing existing cross correlation between Performance Trust Strategic Bon and Lord Abbett Bond Debenture Fund. You can compare the effects of market volatilities on Performance Trust 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 Performance Trust with a short position of Lord Abbett. Check out your portfolio center. Please also check ongoing floating volatility patterns of Performance Trust and Lord Abbett.

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Diversification Opportunities for Performance Trust and Lord Abbett

Performance Trust Strategic Bo diversification synergy
0.63
PE
LOR

Poor diversification

The 3 months correlation between Performance and Lord is 0.63. Overlapping area represents the amount of risk that can be diversified away by holding Performance Trust Strategic Bo and Lord Abbett Bond Debenture Fun in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Lord Abbett Bond and Performance Trust 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 Performance Trust Strategic Bon 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 Bond has no effect on the direction of Performance Trust i.e. Performance Trust and Lord Abbett go up and down completely randomly.

Pair Corralation between Performance Trust and Lord Abbett

Assuming 30 trading days horizon, Performance Trust is expected to generate 3.43 times less return on investment than Lord Abbett. In addition to that, Performance Trust is 1.7 times more volatile than Lord Abbett Bond Debenture Fund. It trades about 0.08 of its total potential returns per unit of risk. Lord Abbett Bond Debenture Fund is currently generating about 0.47 per unit of volatility. If you would invest  798.00  in Lord Abbett Bond Debenture Fund on January 22, 2020 and sell it today you would earn a total of  26.00  from holding Lord Abbett Bond Debenture Fund or generate 3.26% return on investment over 30 days.
Time Period3 Months [change]
DirectionMoves Together 
StrengthSignificant
Accuracy96.88%
ValuesDaily Returns

Performance Trust Strategic Bo  vs.  Lord Abbett Bond Debenture Fun

 Performance (%) 
    
  Timeline 
Performance Trust 
55

Risk-Adjusted Fund Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Performance Trust Strategic Bon are ranked lower than 5 (%) of all funds and portfolios of funds over the last 30 days. Inspite fairly strong basic indicators, Performance Trust is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.
Lord Abbett Bond 
3131

Risk-Adjusted Fund Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Lord Abbett Bond Debenture Fund are ranked lower than 31 (%) of all funds and portfolios of funds over the last 30 days. Inspite fairly strong basic indicators, Lord Abbett is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.

Performance Trust and Lord Abbett Volatility Contrast

 Predicted Return Density 
    
  Returns 
Check out your portfolio center. Please also try Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.