Lazard Emerging Correlations

RLEMX Fund

USD 28.06 0.11 0.39%

The current 90-days correlation between Lazard Emerging Markets and Mfs Emerging Markets is 0.89 (i.e., Very poor diversification). The correlation of Lazard Emerging 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 Emerging Correlation With Market

Very poor diversification

The correlation between Lazard Emerging Markets and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lazard Emerging Markets 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 Emerging Markets. 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 state.

Moving together with Lazard Mutual Fund

0.87	LZCOX	Lazard Small Mid	Pair Corr
1.0	LZEMX	Lazard Emerging Markets	Pair Corr
0.98	LZESX	Lazard International	Pair Corr
0.76	LZHYX	Lazard Corporate Income	Pair Corr
0.98	LZIEX	Lazard International	Pair Corr
0.91	LZIOX	Lazard International	Pair Corr
0.76	LZHOX	Lazard Corporate Income	Pair Corr
0.94	LZISX	Lazard International	Pair Corr
1.0	LZOEX	Lazard Emerging Markets	Pair Corr
0.98	LZSIX	Lazard International	Pair Corr
0.94	LZSMX	Lazard International	Pair Corr
0.87	LZSCX	Lazard Small Mid	Pair Corr
0.74	LZUSX	Lazard Strategic Equity	Pair Corr
0.97	LISIX	Lazard International	Pair Corr
0.97	LISOX	Lazard International	Pair Corr
0.81	UMNIX	Lazard Short Duration	Pair Corr
0.77	UMNOX	Lazard Short Duration	Pair Corr
0.98	RALIX	Lazard Real Assets	Pair Corr
0.98	RALOX	Lazard Real Assets	Pair Corr
0.98	RALYX	Lazard Real Assets	Pair Corr
0.67	RCMPX	Lazard International	Pair Corr
0.61	ECEIX	Lazard Emerging Markets	Pair Corr
0.99	READX	Lazard Emerging Markets	Pair Corr
0.9	GLFOX	Lazard Global Listed	Pair Corr
0.9	GLIFX	Lazard Global Listed	Pair Corr
0.67	ICMPX	Lazard International	Pair Corr
0.98	IEAIX	Lazard International	Pair Corr
0.91	CONOX	Lazard Funds	Pair Corr
0.91	CONIX	Columbia Global Tech	Pair Corr
0.81	LCAIX	Lazard Capital Allocator	Pair Corr
0.81	LCAOX	Lazard Capital Allocator	Pair Corr
0.98	LDMIX	Lazard Developing Markets	Pair Corr
0.98	LDMOX	Lazard Developing Markets	Pair Corr
0.75	RLCIX	Lazard Corporate Income	Pair Corr

Related Correlations Analysis

	LZOEX	TEPLX	DFISX	DFFVX	DISVX	DFUSX	OTCIX	CBTAX	JMGFX	MEMJX
LZOEX		0.89	0.97	0.92	0.94	0.65	0.53	0.96	0.07	0.98	LZOEX
TEPLX	0.89		0.94	0.89	0.92	0.89	0.74	0.83	0.46	0.91	TEPLX
DFISX	0.97	0.94		0.96	0.99	0.77	0.69	0.91	0.2	0.94	DFISX
DFFVX	0.92	0.89	0.96		0.96	0.74	0.69	0.89	0.18	0.88	DFFVX
DISVX	0.94	0.92	0.99	0.96		0.75	0.76	0.89	0.18	0.91	DISVX
DFUSX	0.65	0.89	0.77	0.74	0.75		0.74	0.55	0.69	0.69	DFUSX
OTCIX	0.53	0.74	0.69	0.69	0.76	0.74		0.47	0.53	0.53	OTCIX
CBTAX	0.96	0.83	0.91	0.89	0.89	0.55	0.47		-0.06	0.94	CBTAX
JMGFX	0.07	0.46	0.2	0.18	0.18	0.69	0.53	-0.06		0.14	JMGFX
MEMJX	0.98	0.91	0.94	0.88	0.91	0.69	0.53	0.94	0.14		MEMJX
	LZOEX	TEPLX	DFISX	DFFVX	DISVX	DFUSX	OTCIX	CBTAX	JMGFX	MEMJX

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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

DISVX	+ 0.99	DFISX
MEMJX	+ 0.98	LZOEX
DFISX	+ 0.97	LZOEX
CBTAX	+ 0.96	LZOEX
DFFVX	+ 0.96	DFISX
DISVX	+ 0.96	DFFVX

High negative correlations

JMGFX

- 0.06

CBTAX

Risk-Adjusted Indicators

There is a big difference between Lazard Mutual Fund performing well and Lazard Emerging 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 Emerging'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
LZOEX	0.52	0.18	0.23	0.46	0.21	(0.61)	1.28	(1.09)	2.66
TEPLX	0.61	0.01	(0.01)	0.07	0.80	(0.59)	1.26	(1.45)	3.87
DFISX	0.59	0.16	0.17	0.31	0.51	(0.66)	1.50	(1.18)	3.57
DFFVX	0.80	0.16	0.19	0.21	0.55	(0.94)	2.49	(1.35)	4.74
DISVX	0.68	0.28	0.33	0.44	0.29	(0.84)	1.75	(1.05)	7.06
DFUSX	0.54	(0.05)	(0.07)	0.00	0.80	(0.54)	0.99	(1.55)	3.62
OTCIX	1.13	0.14	0.11	0.23	1.02	(1.41)	1.36	(1.86)	19.27
CBTAX	0.07	0.02	(0.25)	1.22	0.00	(0.11)	0.10	(0.10)	0.51
JMGFX	0.84	(0.12)	0.00	(0.06)	0.00	0.00	1.41	(2.07)	5.39
MEMJX	0.58	0.08	0.07	0.22	0.54	(0.61)	1.35	(1.08)	3.43

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