Lazard Active Correlations

EMKT Etf

25.75 0.67 2.67%

The current 90-days correlation between Lazard Active ETF and iShares Energy ETF is 0.05 (i.e., Significant diversification). The correlation of Lazard Active 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 Active Correlation With Market

Modest diversification

The correlation between Lazard Active ETF and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lazard Active ETF and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Lazard Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Lazard Active ETF. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Lazard Etf

0.9	EMC	Global X Funds	Pair Corr
0.83	HD	Home Depot	Pair Corr
0.74	BA	Boeing	Pair Corr
0.69	HPQ	HP Inc	Pair Corr

Moving against Lazard Etf

0.78	CSCO	Cisco Systems	Pair Corr
0.36	SFGRX	Seafarer Overseas	Pair Corr
0.35	AMPD	Tidal ETF Services	Pair Corr
0.8	KO	Coca Cola	Pair Corr
0.69	TRV	The Travelers Companies	Pair Corr
0.69	JNJ	Johnson Johnson	Pair Corr
0.63	MRK	Merck Company	Pair Corr
0.61	CAT	Caterpillar	Pair Corr
0.61	MMM	3M Company	Pair Corr
0.58	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.56	IBM	International Business	Pair Corr
0.46	BAC	Bank of America	Pair Corr
0.41	WMT	Walmart Common Stock Aggressive Push	Pair Corr

Related Correlations Analysis

	IYE	AIA	PTIR	IWC	OUSM	DLS	PEY	YINN	VMMSX
IYE		0.18	-0.31	0.17	-0.01	0.34	-0.27	-0.16	0.57	IYE
AIA	0.18		0.5	0.22	0.25	0.37	0.27	0.38	0.78	AIA
PTIR	-0.31	0.5		0.29	0.43	0.18	0.51	0.36	0.21	PTIR
IWC	0.17	0.22	0.29		0.68	0.77	0.48	-0.39	0.5	IWC
OUSM	-0.01	0.25	0.43	0.68		0.75	0.83	0.12	0.32	OUSM
DLS	0.34	0.37	0.18	0.77	0.75		0.51	-0.18	0.66	DLS
PEY	-0.27	0.27	0.51	0.48	0.83	0.51		0.43	0.06	PEY
YINN	-0.16	0.38	0.36	-0.39	0.12	-0.18	0.43		-0.11	YINN
VMMSX	0.57	0.78	0.21	0.5	0.32	0.66	0.06	-0.11		VMMSX
	IYE	AIA	PTIR	IWC	OUSM	DLS	PEY	YINN	VMMSX

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

PEY	+ 0.83	OUSM
VMMSX	+ 0.78	AIA
DLS	+ 0.77	IWC
DLS	+ 0.75	OUSM
OUSM	+ 0.68	IWC
VMMSX	+ 0.66	DLS

High negative correlations

YINN	- 0.39	IWC
PTIR	- 0.31	IYE
PEY	- 0.27	IYE
YINN	- 0.18	DLS
YINN	- 0.16	IYE
VMMSX	- 0.11	YINN

Lazard Active Constituents Risk-Adjusted Indicators

There is a big difference between Lazard Etf performing well and Lazard Active ETF 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 Active'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
IYE	0.88	0.01	(0.01)	0.08	1.16	(0.84)	1.59	(1.40)	4.79
AIA	1.08	0.07	0.05	0.11	1.43	(1.11)	1.98	(1.68)	6.83
PTIR	4.80	(0.42)	0.00	(0.05)	0.00	0.00	9.19	(13.09)	30.51
IWC	1.24	0.02	0.03	0.07	1.55	(1.19)	2.88	(2.86)	6.12
OUSM	0.56	(0.07)	0.00	(0.03)	0.00	0.00	1.44	(1.17)	3.32
DLS	0.49	0.01	(0.02)	0.07	0.58	(0.49)	1.10	(1.03)	2.45
PEY	0.64	(0.07)	0.00	(0.03)	0.00	0.00	1.63	(1.45)	3.47
YINN	2.72	(0.30)	0.00	(0.04)	0.00	0.00	5.14	(4.24)	18.60
VMMSX	0.65	0.05	0.04	0.11	0.82	(0.68)	1.38	(1.09)	4.40

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