Lazard Equity Correlations

LZFIX Fund

USD 10.22 0.05 0.49%

The correlation of Lazard Equity 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 Equity Correlation With Market

Very weak diversification

The correlation between Lazard Equity Franchise and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lazard Equity Franchise 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 Lazard Equity Franchise. 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

0.68	OCMPX	Lazard International	Pair Corr
0.94	LZFOX	Lazard Equity Franchise	Pair Corr
0.81	LZESX	Lazard International	Pair Corr
0.88	LZIEX	Lazard International	Pair Corr
0.88	LZIOX	Lazard International	Pair Corr
0.91	LZISX	Lazard International	Pair Corr
0.86	LZSIX	Lazard International	Pair Corr
0.91	LZSMX	Lazard International	Pair Corr
0.87	LISIX	Lazard International	Pair Corr
0.87	LISOX	Lazard International	Pair Corr
0.69	UMNIX	Lazard Short Duration	Pair Corr
0.71	UMNOX	Lazard Short Duration	Pair Corr
0.68	RCMPX	Lazard International	Pair Corr
0.69	GLFOX	Lazard Global Listed	Pair Corr
0.68	GLIFX	Lazard Global Listed	Pair Corr
0.68	ICMPX	Lazard International	Pair Corr

Moving against Lazard Mutual Fund

0.43	LZCOX	Lazard Small Mid	Pair Corr
0.6	RUSRX	Lazard Systematic Small	Pair Corr
0.45	LZUOX	Lazard Strategic Equity	Pair Corr
0.45	LZUSX	Lazard Strategic Equity	Pair Corr
0.43	LZSCX	Lazard Small Mid	Pair Corr
0.67	CONOX	Lazard Funds	Pair Corr
0.67	CONIX	Columbia Global Tech	Pair Corr
0.6	LUSIX	Lazard Funds	Pair Corr
0.6	LUSOX	Lazard Funds	Pair Corr
0.51	LCAIX	Lazard Capital Allocator	Pair Corr
0.5	LCAOX	Lazard Capital Allocator	Pair Corr

Related Correlations Analysis

	GDMIX	GDMOX	LZCOX	LZFOX	LZEMX	LZESX	LZFIX	LZHYX	LZIEX	LZIOX
GDMIX		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	GDMIX
GDMOX	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	GDMOX
LZCOX	0.0	0.0		-0.47	0.09	-0.42	-0.43	0.47	-0.38	-0.38	LZCOX
LZFOX	0.0	0.0	-0.47		0.43	0.86	0.94	0.16	0.87	0.87	LZFOX
LZEMX	0.0	0.0	0.09	0.43		0.64	0.39	0.38	0.63	0.62	LZEMX
LZESX	0.0	0.0	-0.42	0.86	0.64		0.81	0.12	0.94	0.94	LZESX
LZFIX	0.0	0.0	-0.43	0.94	0.39	0.81		0.13	0.88	0.88	LZFIX
LZHYX	0.0	0.0	0.47	0.16	0.38	0.12	0.13		0.17	0.16	LZHYX
LZIEX	0.0	0.0	-0.38	0.87	0.63	0.94	0.88	0.17		1.0	LZIEX
LZIOX	0.0	0.0	-0.38	0.87	0.62	0.94	0.88	0.16	1.0		LZIOX
	GDMIX	GDMOX	LZCOX	LZFOX	LZEMX	LZESX	LZFIX	LZHYX	LZIEX	LZIOX

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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

LZIOX	+ 1.0	LZIEX
LZFIX	+ 0.94	LZFOX
LZIEX	+ 0.94	LZESX
LZIOX	+ 0.94	LZESX
LZIEX	+ 0.88	LZFIX
LZIOX	+ 0.88	LZFIX

High negative correlations

LZFOX	- 0.47	LZCOX
LZFIX	- 0.43	LZCOX
LZESX	- 0.42	LZCOX
LZIOX	- 0.38	LZCOX
LZIEX	- 0.38	LZCOX
LZIOX	- 0.0	GDMOX

Risk-Adjusted Indicators

There is a big difference between Lazard Mutual Fund performing well and Lazard Equity 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 Equity'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
GDMIX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GDMOX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LZCOX	0.90	(0.05)	0.00	0.08	0.97	(1.02)	1.88	(1.70)	6.50
LZFOX	0.57	(0.04)	0.00	0.69	0.00	0.00	1.16	(1.05)	2.98
LZEMX	0.72	(0.09)	0.00	(0.13)	0.00	0.00	1.28	(1.56)	4.70
LZESX	0.59	(0.11)	0.00	(2.11)	0.00	0.00	1.04	(1.31)	3.69
LZFIX	0.58	(0.10)	0.00	(0.08)	0.00	0.00	1.22	(1.05)	2.97
LZHYX	0.12	0.00	(0.73)	0.05	0.06	(0.16)	0.28	(0.22)	0.83
LZIEX	0.58	(0.15)	0.00	(0.21)	0.00	0.00	1.09	(1.27)	4.02
LZIOX	0.58	(0.15)	0.00	(0.21)	0.00	0.00	1.07	(1.31)	4.07

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