Correlation Analysis Between American Funds and Lord Abbett

This module allows you to analyze existing cross correlation between American Funds 2030 Target Date and Lord Abbett Ultra Short Bond Fu. You can compare the effects of market volatilities on American Funds 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 American Funds with a short position of Lord Abbett. See also your portfolio center. Please also check ongoing floating volatility patterns of American Funds and Lord Abbett.
Horizon     30 Days    Login   to change
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Check Efficiency

Comparative Performance

American Funds 2030  
99

Risk-Adjusted Fund Performance

Compared to the overall equity markets, risk-adjusted returns on investments in American Funds 2030 Target Date are ranked lower than 9 (%) of all funds and portfolios of funds over the last 30 days. Inspite fairly strong basic indicators, American Funds is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.
Lord Abbett Ultra  
22

Risk-Adjusted Fund Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Lord Abbett Ultra Short Bond Fu are ranked lower than 2 (%) 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.

American Funds and Lord Abbett Volatility Contrast

 Predicted Return Density 
      Returns 

American Funds 2030 Target Dat  vs.  Lord Abbett Ultra Short Bond F

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, American Funds 2030 Target Date is expected to generate 9.53 times more return on investment than Lord Abbett. However, American Funds is 9.53 times more volatile than Lord Abbett Ultra Short Bond Fu. It trades about 0.14 of its potential returns per unit of risk. Lord Abbett Ultra Short Bond Fu is currently generating about 0.04 per unit of risk. If you would invest  1,464  in American Funds 2030 Target Date on November 10, 2019 and sell it today you would earn a total of  50.00  from holding American Funds 2030 Target Date or generate 3.42% return on investment over 30 days.

Pair Corralation between American Funds and Lord Abbett

0.1
Time Period3 Months [change]
DirectionPositive 
StrengthInsignificant
Accuracy95.52%
ValuesDaily Returns

Diversification Opportunities for American Funds and Lord Abbett

American Funds 2030 Target Dat diversification synergy

Average diversification

Overlapping area represents the amount of risk that can be diversified away by holding American Funds 2030 Target Dat and Lord Abbett Ultra Short Bond F in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Lord Abbett Ultra and American Funds 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 American Funds 2030 Target Date 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 Ultra has no effect on the direction of American Funds i.e. American Funds and Lord Abbett go up and down completely randomly.
See also your portfolio center. Please also try Pair Correlation module to compare performance and examine historical correlation between any two equity instruments.


 
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