Lazard Emerging Correlations

ECEIX Fund

USD 28.13 0.18 0.64%

The current 90-days correlation between Lazard Emerging Markets and T Rowe Price is 0.22 (i.e., Modest diversification). The correlation of Lazard Emerging 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.

Lazard Emerging Correlation With Market

Poor diversification

The correlation between Lazard Emerging Markets and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lazard Emerging Markets and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Lazard Emerging Markets. 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 Lazard Mutual Fund

0.84	LZCOX	Lazard Small Mid	Pair Corr
0.61	LZEMX	Lazard Emerging Markets	Pair Corr
0.68	LZESX	Lazard International	Pair Corr
0.9	LZHYX	Lazard Corporate Income	Pair Corr
0.7	LZIEX	Lazard International	Pair Corr
0.68	LZIOX	Lazard International	Pair Corr
0.9	LZHOX	Lazard Corporate Income	Pair Corr
0.74	LZISX	Lazard International	Pair Corr
0.61	LZOEX	Lazard Emerging Markets	Pair Corr
0.68	LZSIX	Lazard International	Pair Corr
0.74	LZSMX	Lazard International	Pair Corr
0.84	LZSCX	Lazard Small Mid	Pair Corr
0.79	LZUOX	Lazard Strategic Equity	Pair Corr
0.69	LZUSX	Lazard Strategic Equity	Pair Corr
0.71	LISIX	Lazard International	Pair Corr
0.71	LISOX	Lazard International	Pair Corr
0.78	UMNIX	Lazard Short Duration	Pair Corr
0.8	UMNOX	Lazard Short Duration	Pair Corr
0.69	IEAIX	Lazard International	Pair Corr
0.69	CONOX	Lazard Funds	Pair Corr
0.69	CONIX	Columbia Global Tech	Pair Corr
0.66	LCAIX	Lazard Capital Allocator	Pair Corr
0.66	LCAOX	Lazard Capital Allocator	Pair Corr
0.91	RLCIX	Lazard Corporate Income	Pair Corr

Moving against Lazard Mutual Fund

0.49	GESIX	Lazard Global Equity	Pair Corr
0.49	GESOX	Lazard Global Equity	Pair Corr

Related Correlations Analysis

	RRTDX	RRTLX	VTHRX	JTSQX	TBLCX	IMDRX	TRBSX
RRTDX		1.0	0.98	0.97	0.99	0.96	0.99	RRTDX
RRTLX	1.0		0.96	0.97	0.98	0.96	0.98	RRTLX
VTHRX	0.98	0.96		0.95	1.0	0.94	1.0	VTHRX
JTSQX	0.97	0.97	0.95		0.97	0.93	0.97	JTSQX
TBLCX	0.99	0.98	1.0	0.97		0.95	1.0	TBLCX
IMDRX	0.96	0.96	0.94	0.93	0.95		0.95	IMDRX
TRBSX	0.99	0.98	1.0	0.97	1.0	0.95		TRBSX
	RRTDX	RRTLX	VTHRX	JTSQX	TBLCX	IMDRX	TRBSX

Risk-Adjusted Indicators

There is a big difference between Lazard Mutual Fund performing well and Lazard Emerging 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 Lazard Emerging'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
RRTDX	0.52	0.08	0.09	0.18	0.44	(0.59)	1.06	(1.22)	5.00
RRTLX	0.28	0.05	0.03	0.20	0.05	(0.35)	0.58	(0.49)	3.30
VTHRX	0.34	0.02	(0.03)	0.10	0.34	(0.35)	0.73	(0.64)	1.92
JTSQX	0.53	0.06	0.06	0.16	0.54	(0.58)	1.05	(1.10)	4.95
TBLCX	0.29	0.03	(0.03)	0.13	0.25	(0.35)	0.58	(0.64)	1.66
IMDRX	0.40	0.07	0.07	0.24	0.26	(0.46)	0.81	(0.67)	5.29
TRBSX	0.55	0.04	0.03	0.12	0.61	(0.57)	1.15	(1.40)	3.52

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