Lazard Active Correlations

IDEQ Etf

30.48 0.37 1.23%

The current 90-days correlation between Lazard Active ETF and Strategy Shares is 0.57 (i.e., Very weak 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

Poor diversification

The correlation between Lazard Active ETF and DJI is 0.62 (i.e., Poor 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 consumer price index.

Moving together with Lazard Etf

0.96	VEA	Vanguard FTSE Developed	Pair Corr
0.91	IEFA	iShares Core MSCI	Pair Corr
0.9	VEU	Vanguard FTSE All	Pair Corr
0.92	EFA	iShares MSCI EAFE	Pair Corr
0.89	IXUS	iShares Core MSCI	Pair Corr
0.96	SPDW	SPDR SP World	Pair Corr
0.93	IDEV	iShares Core MSCI	Pair Corr
0.88	ESGD	iShares ESG Aware	Pair Corr
0.92	JIRE	JP Morgan Exchange	Pair Corr
0.96	DFAX	Dimensional World	Pair Corr
0.64	JNUG	Direxion Daily Junior	Pair Corr
0.63	NUGT	Direxion Daily Gold	Pair Corr
0.79	MUU	Direxion Daily MU Trending	Pair Corr
0.78	MULL	GraniteShares 2x Long Trending	Pair Corr
0.88	AGQ	ProShares Ultra Silver Buyout Trend	Pair Corr
0.76	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.79	DD	Dupont De Nemours	Pair Corr
0.76	WMT	Walmart Common Stock	Pair Corr
0.79	AXP	American Express	Pair Corr
0.77	CAT	Caterpillar	Pair Corr
0.91	AA	Alcoa Corp Sell-off Trend	Pair Corr
0.74	JNJ	Johnson Johnson	Pair Corr
0.74	MRK	Merck Company Aggressive Push	Pair Corr
0.74	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.71	IBM	International Business	Pair Corr

Moving against Lazard Etf

0.68	PG	Procter Gamble	Pair Corr
0.55	HD	Home Depot	Pair Corr
0.5	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	DHSB	MBOX	DINT	MCHI	DIVS	DIVZ	PY	VT	XC
DHSB		0.57	0.53	-0.39	0.55	0.39	0.72	0.9	0.75	DHSB
MBOX	0.57		0.55	0.13	0.68	0.83	0.91	0.57	0.23	MBOX
DINT	0.53	0.55		0.38	0.36	0.17	0.66	0.73	0.34	DINT
MCHI	-0.39	0.13	0.38		0.05	-0.17	0.01	-0.09	-0.48	MCHI
DIVS	0.55	0.68	0.36	0.05		0.53	0.61	0.57	0.24	DIVS
DIVZ	0.39	0.83	0.17	-0.17	0.53		0.72	0.24	0.15	DIVZ
PY	0.72	0.91	0.66	0.01	0.61	0.72		0.7	0.36	PY
VT	0.9	0.57	0.73	-0.09	0.57	0.24	0.7		0.75	VT
XC	0.75	0.23	0.34	-0.48	0.24	0.15	0.36	0.75		XC
	DHSB	MBOX	DINT	MCHI	DIVS	DIVZ	PY	VT	XC

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

PY	+ 0.91	MBOX
VT	+ 0.9	DHSB
DIVZ	+ 0.83	MBOX
XC	+ 0.75	DHSB
XC	+ 0.75	VT
VT	+ 0.73	DINT

High negative correlations

XC	- 0.48	MCHI
MCHI	- 0.39	DHSB
DIVZ	- 0.17	MCHI
VT	- 0.09	MCHI

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
DHSB	0.21	0.00	(0.12)	0.06	0.25	(0.21)	0.47	(0.46)	1.46
MBOX	0.55	(0.04)	(0.07)	0.01	0.68	(0.58)	1.00	(1.08)	2.94
DINT	0.73	(0.02)	(0.02)	0.04	1.06	(0.72)	1.25	(1.95)	4.30
MCHI	0.92	(0.12)	0.00	(0.08)	0.00	0.00	1.72	(1.53)	7.61
DIVS	0.51	(0.03)	(0.06)	0.02	0.65	(0.52)	1.02	(0.92)	3.94
DIVZ	0.49	(0.03)	(0.11)	0.00	0.51	(0.61)	0.98	(0.98)	2.59
PY	0.50	(0.02)	(0.05)	0.03	0.70	(0.50)	1.06	(0.90)	3.26
VT	0.57	(0.01)	(0.01)	0.05	0.85	(0.54)	1.05	(1.25)	3.16
XC	0.46	0.01	(0.04)	0.08	0.51	(0.49)	0.97	(0.87)	2.42

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