Lazard Active Correlations

GLIX Etf

26.06 0.10 0.38%

The current 90-days correlation between Lazard Active ETF and iShares Global Industrials is -0.2 (i.e., Good 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

Very weak diversification

The correlation between Lazard Active ETF and DJI is 0.44 (i.e., Very weak 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 Risk vs Return Analysis 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 gross domestic product.

Moving together with Lazard Etf

0.66	PAVE	Global X Infrastructure Low Volatility	Pair Corr
0.86	IGF	iShares Global Infra	Pair Corr
0.75	NFRA	FlexShares STOXX Global	Pair Corr
0.71	IFRA	iShares Infrastructure Low Volatility	Pair Corr
0.85	GII	SPDR SP Global	Pair Corr
0.84	TOLZ	ProShares DJ Brookfield	Pair Corr
0.65	BLLD	JPMorgan	Pair Corr
0.72	RDIV	Invesco SP Ultra	Pair Corr
0.66	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.8	CVX	Chevron Corp	Pair Corr
0.68	CAT	Caterpillar	Pair Corr
0.8	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.73	PG	Procter Gamble	Pair Corr
0.71	JNJ	Johnson Johnson	Pair Corr

Moving against Lazard Etf

0.41	MPAY	Exchange Traded Concepts	Pair Corr
0.7	MSFT	Microsoft	Pair Corr
0.68	HPQ	HP Inc	Pair Corr
0.42	AXP	American Express	Pair Corr
0.34	IBM	International Business	Pair Corr

Related Correlations Analysis

	MISL	DUSL	NATO	NFRA	NFRX	EUAD	FIDU	CGW	EXI
MISL		0.94	0.98	0.62	-0.31	0.87	0.95	0.87	0.95	MISL
DUSL	0.94		0.88	0.8	-0.42	0.73	1.0	0.93	0.99	DUSL
NATO	0.98	0.88		0.56	-0.3	0.93	0.9	0.83	0.91	NATO
NFRA	0.62	0.8	0.56		-0.54	0.36	0.77	0.82	0.79	NFRA
NFRX	-0.31	-0.42	-0.3	-0.54		-0.2	-0.4	-0.4	-0.41	NFRX
EUAD	0.87	0.73	0.93	0.36	-0.2		0.75	0.67	0.75	EUAD
FIDU	0.95	1.0	0.9	0.77	-0.4	0.75		0.93	0.99	FIDU
CGW	0.87	0.93	0.83	0.82	-0.4	0.67	0.93		0.93	CGW
EXI	0.95	0.99	0.91	0.79	-0.41	0.75	0.99	0.93		EXI
	MISL	DUSL	NATO	NFRA	NFRX	EUAD	FIDU	CGW	EXI

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

FIDU	+ 1.0	DUSL
EXI	+ 0.99	DUSL
EXI	+ 0.99	FIDU
NATO	+ 0.98	MISL
FIDU	+ 0.95	MISL
EXI	+ 0.95	MISL

High negative correlations

NFRX	- 0.54	NFRA
NFRX	- 0.42	DUSL
EXI	- 0.41	NFRX
CGW	- 0.4	NFRX
FIDU	- 0.4	NFRX
NFRX	- 0.31	MISL

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
MISL	1.32	0.12	0.09	0.18	1.25	(1.48)	3.42	(2.29)	7.30
DUSL	2.35	0.27	0.14	0.17	2.67	(2.42)	5.51	(5.06)	12.81
NATO	0.89	0.07	0.00	0.73	1.08	(0.88)	2.02	(1.88)	5.61
NFRA	0.47	0.06	0.02	0.21	0.42	(0.54)	1.02	(0.90)	2.22
NFRX	0.67	0.00	0.00	0.00	0.00	0.00	1.52	(0.60)	1.52
EUAD	1.17	(0.04)	0.00	(0.17)	0.00	0.00	2.55	(2.30)	6.73
FIDU	0.85	0.09	0.09	0.16	0.86	(0.93)	1.60	(1.79)	4.00
CGW	0.61	0.04	0.03	0.14	0.68	(0.62)	1.32	(0.97)	4.09
EXI	0.72	0.10	0.10	0.18	0.71	(0.78)	1.38	(1.31)	3.71

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