Lazard Real Correlations

RALIX Fund

USD 10.17 0.11 1.09%

The current 90-days correlation between Lazard Real Assets and Lazard International Quality is 0.47 (i.e., Very weak diversification). The correlation of Lazard Real 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 Real Correlation With Market

Modest diversification

The correlation between Lazard Real Assets and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lazard Real Assets and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Lazard Real Assets. 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

0.81	OCMPX	Lazard International	Pair Corr
0.82	LZCOX	Lazard Small Mid	Pair Corr
0.9	LZFOX	Lazard Equity Franchise	Pair Corr
0.74	LZEMX	Lazard Emerging Markets	Pair Corr
0.79	LZESX	Lazard International	Pair Corr
0.9	LZFIX	Lazard Equity Franchise	Pair Corr
0.89	LZIEX	Lazard International	Pair Corr
0.89	LZIOX	Lazard International	Pair Corr
0.69	LZISX	Lazard International	Pair Corr
0.74	LZOEX	Lazard Emerging Markets	Pair Corr
0.79	LZSIX	Lazard International	Pair Corr
0.69	LZSMX	Lazard International	Pair Corr
0.85	GESIX	Lazard Global Equity	Pair Corr
0.85	GESOX	Lazard Global Equity	Pair Corr
0.82	LZSCX	Lazard Small Mid	Pair Corr
0.79	LZUOX	Lazard Strategic Equity	Pair Corr
0.79	LZUSX	Lazard Strategic Equity	Pair Corr
0.88	LISIX	Lazard International	Pair Corr
0.88	LISOX	Lazard International	Pair Corr
0.75	SUSTX	Lazard Sustainable Equity	Pair Corr
0.75	SUSLX	Lazard Sustainable Equity	Pair Corr
0.95	RALOX	Lazard Real Assets	Pair Corr
0.95	RALYX	Lazard Real Assets	Pair Corr
0.8	RCMPX	Lazard International	Pair Corr
0.66	ECEOX	Lazard Emerging Markets	Pair Corr
0.66	ECEIX	Lazard Emerging Markets	Pair Corr
0.64	READX	Lazard Emerging Markets	Pair Corr
0.88	GLFOX	Lazard Global Listed	Pair Corr
0.88	GLIFX	Lazard Global Listed	Pair Corr
0.85	ICMPX	Lazard International	Pair Corr
0.87	IEAIX	Lazard International	Pair Corr
0.87	IEAOX	Lazard International	Pair Corr

Related Correlations Analysis

	OCMPX	LZCOX	LZFOX	LZEMX	LZESX	LZFIX	LZHYX	LZIEX	LZIOX	LZHOX
OCMPX		0.72	0.87	0.85	0.92	0.87	0.06	0.94	0.94	0.09	OCMPX
LZCOX	0.72		0.9	0.47	0.58	0.9	0.39	0.83	0.83	0.43	LZCOX
LZFOX	0.87	0.9		0.73	0.79	1.0	0.09	0.95	0.95	0.13	LZFOX
LZEMX	0.85	0.47	0.73		0.95	0.73	-0.13	0.85	0.86	-0.09	LZEMX
LZESX	0.92	0.58	0.79	0.95		0.79	0.08	0.92	0.92	0.11	LZESX
LZFIX	0.87	0.9	1.0	0.73	0.79		0.08	0.95	0.95	0.13	LZFIX
LZHYX	0.06	0.39	0.09	-0.13	0.08	0.08		0.15	0.14	1.0	LZHYX
LZIEX	0.94	0.83	0.95	0.85	0.92	0.95	0.15		1.0	0.19	LZIEX
LZIOX	0.94	0.83	0.95	0.86	0.92	0.95	0.14	1.0		0.19	LZIOX
LZHOX	0.09	0.43	0.13	-0.09	0.11	0.13	1.0	0.19	0.19		LZHOX
	OCMPX	LZCOX	LZFOX	LZEMX	LZESX	LZFIX	LZHYX	LZIEX	LZIOX	LZHOX

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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

LZFIX	+ 1.0	LZFOX
LZHOX	+ 1.0	LZHYX
LZIOX	+ 1.0	LZIEX
LZIEX	+ 0.95	LZFOX
LZIOX	+ 0.95	LZFOX
LZESX	+ 0.95	LZEMX

High negative correlations

LZHYX	- 0.13	LZEMX
LZHOX	- 0.09	LZEMX

Risk-Adjusted Indicators

There is a big difference between Lazard Mutual Fund performing well and Lazard Real 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 Real'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
OCMPX	0.61	(0.12)	0.00	(2.56)	0.00	0.00	1.01	(1.67)	3.59
LZCOX	1.01	(0.16)	0.00	(0.36)	0.00	0.00	1.72	(2.20)	15.50
LZFOX	0.76	(0.31)	0.00	(1.34)	0.00	0.00	1.14	(1.58)	12.07
LZEMX	0.59	(0.11)	0.00	(0.39)	0.00	0.00	1.15	(1.36)	3.11
LZESX	0.56	(0.11)	0.00	(0.46)	0.00	0.00	1.03	(1.31)	3.47
LZFIX	0.76	(0.31)	0.00	(1.24)	0.00	0.00	1.11	(1.58)	12.17
LZHYX	0.16	0.00	(0.06)	0.10	0.15	(0.18)	0.28	(0.33)	1.23
LZIEX	0.61	(0.15)	0.00	(0.61)	0.00	0.00	1.06	(1.45)	5.44
LZIOX	0.62	(0.15)	0.00	(0.62)	0.00	0.00	1.10	(1.49)	5.29
LZHOX	0.15	0.00	(0.06)	0.08	0.15	(0.17)	0.33	(0.33)	1.16

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