Lazard Emerging Correlations

LEAOX Fund

USD 15.52 0.17 1.11%

The current 90-days correlation between Lazard Emerging Markets and Firsthand Alternative Energy is 0.57 (i.e., Very weak 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 weak diversification

The correlation between Lazard Emerging Markets and DJI is 0.48 (i.e., Very weak 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 Correlation Analysis 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 producer price index.

Moving together with Lazard Mutual Fund

0.85	LZEMX	Lazard Emerging Markets	Pair Corr
0.86	LZESX	Lazard International	Pair Corr
0.81	LZHYX	Lazard Corporate Income	Pair Corr
0.87	LZIEX	Lazard International	Pair Corr
0.86	LZIOX	Lazard International	Pair Corr
0.85	LZHOX	Lazard Corporate Income	Pair Corr
0.85	LZOEX	Lazard Emerging Markets	Pair Corr
0.86	LZSIX	Lazard International	Pair Corr
0.67	GESIX	Lazard Global Equity	Pair Corr
0.66	GESOX	Lazard Global Equity	Pair Corr
0.83	LZUOX	Lazard Strategic Equity	Pair Corr
0.83	LZUSX	Lazard Strategic Equity	Pair Corr
0.66	LISIX	Lazard International	Pair Corr
0.65	LISOX	Lazard International	Pair Corr
0.7	UMNIX	Lazard Short Duration	Pair Corr
0.69	UMNOX	Lazard Short Duration	Pair Corr
0.75	RALIX	Lazard Real Assets	Pair Corr
0.76	RALOX	Lazard Real Assets	Pair Corr
0.77	RALYX	Lazard Real Assets	Pair Corr
0.77	ECEOX	Lazard Emerging Markets	Pair Corr
0.95	ECEIX	Lazard Emerging Markets	Pair Corr
1.0	READX	Lazard Emerging Markets	Pair Corr
0.72	GLFOX	Lazard Global Listed	Pair Corr
0.72	GLIFX	Lazard Global Listed	Pair Corr
0.96	IEAIX	Lazard International	Pair Corr
0.93	CONOX	Lazard Funds	Pair Corr
0.93	CONIX	Columbia Global Tech	Pair Corr
0.96	LCAIX	Lazard Capital Allocator	Pair Corr
0.95	LCAOX	Lazard Capital Allocator	Pair Corr
0.98	LDMIX	Lazard Developing Markets	Pair Corr
0.97	LDMOX	Lazard Developing Markets	Pair Corr

Moving against Lazard Mutual Fund

0.38	LZFOX	Lazard Equity Franchise	Pair Corr
0.38	LZFIX	Lazard Equity Franchise	Pair Corr

Related Correlations Analysis

	ALTEX	FIKAX	BCX	GMOWX	ICBAX	XGNTX
ALTEX		-0.15	-0.05	0.61	0.8	0.48	ALTEX
FIKAX	-0.15		0.51	0.56	-0.09	0.3	FIKAX
BCX	-0.05	0.51		0.36	0.16	0.56	BCX
GMOWX	0.61	0.56	0.36		0.48	0.53	GMOWX
ICBAX	0.8	-0.09	0.16	0.48		0.5	ICBAX
XGNTX	0.48	0.3	0.56	0.53	0.5		XGNTX
	ALTEX	FIKAX	BCX	GMOWX	ICBAX	XGNTX

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

ICBAX	+ 0.8	ALTEX
GMOWX	+ 0.61	ALTEX
GMOWX	+ 0.56	FIKAX
XGNTX	+ 0.56	BCX
XGNTX	+ 0.53	GMOWX
BCX	+ 0.51	FIKAX

High negative correlations

FIKAX	- 0.15	ALTEX
ICBAX	- 0.09	FIKAX
BCX	- 0.05	ALTEX

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
ALTEX	1.71	0.08	0.05	0.10	2.44	(1.60)	3.59	(4.56)	14.57
FIKAX	0.76	0.07	0.03	0.32	0.97	(0.84)	1.63	(1.77)	4.98
BCX	0.65	0.03	0.01	0.12	0.70	(0.74)	1.60	(1.18)	3.98
GMOWX	0.95	0.06	0.04	0.12	1.11	(1.04)	2.02	(1.83)	5.52
ICBAX	1.08	0.00	0.01	0.06	1.21	(1.28)	2.23	(1.92)	6.25
XGNTX	0.61	0.08	0.06	0.21	0.75	(0.65)	1.32	(1.41)	3.24

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