Floating Rate Correlations

Mutual Funds . USA . 
Fund . Floating Rate Fund
LFRFX Fund  USD 8.09  0.00  0.00%   
The current 90-days correlation between Floating Rate and Black Oak Emerging is 0.39 (i.e., Weak 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

Modest diversification

The correlation between Floating Rate Fund and DJI is 0.24 (i.e., Modest 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 census.

Moving together with Floating Mutual Fund

  0.61LFSFX Lord Abbett FocusedPairCorr
  0.66LFRAX Floating RatePairCorr
  1.0LFRIX Floating RatePairCorr
  1.0LFRRX Lord Abbett InvPairCorr
  0.66LFROX Lord Abbett FloatingPairCorr
  0.93LFVAX Lord Abbett FocusedPairCorr
  0.61LFVCX Lord Abbett FocusedPairCorr
  0.64LGLCX Lord Abbett GrowthPairCorr
  0.64LGLAX Lord Abbett GrowthPairCorr
  0.64LGLFX Lord Abbett GrowthPairCorr
  0.64LGLIX Lord Abbett GrowthPairCorr
  0.64LGLOX Lord Abbett GrowthPairCorr
  0.98LGLSX L Abbett GrowthPairCorr
  0.64LGLQX Lord Abbett GrowthPairCorr
  0.64LGLRX Lord Abbett GrowthPairCorr
  0.64LGLUX L Abbett GrowthPairCorr
  0.64LGLVX L Abbett GrowthPairCorr
  0.96EMILX Lord Abbett EmergingPairCorr

Related Correlations Analysis

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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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