Lazard Strategic Correlations

LZUOX Fund

USD 17.20 0.10 0.58%

The current 90-days correlation between Lazard Strategic Equity and Balanced Fund Institutional is 0.41 (i.e., Very weak diversification). The correlation of Lazard Strategic 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 Strategic Correlation With Market

Very poor diversification

The correlation between Lazard Strategic Equity and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lazard Strategic Equity 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 Strategic Equity. 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 metropolitan statistical area.

Moving together with Lazard Mutual Fund

0.9	LZCOX	Lazard Small Mid	Pair Corr
0.82	LZEMX	Lazard Emerging Markets	Pair Corr
0.78	LZESX	Lazard International	Pair Corr
0.82	LZHYX	Lazard Corporate Income	Pair Corr
0.96	LZHOX	Lazard Corporate Income	Pair Corr
0.88	LZOEX	Lazard Emerging Markets	Pair Corr
0.74	LZSMX	Lazard International	Pair Corr
0.75	LISIX	Lazard International	Pair Corr
0.75	LISOX	Lazard International	Pair Corr
0.67	UMNIX	Lazard Short Duration	Pair Corr
0.71	UMNOX	Lazard Short Duration	Pair Corr
0.72	ECEIX	Lazard Emerging Markets	Pair Corr
0.74	LCAOX	Lazard Capital Allocator	Pair Corr
0.61	LDMOX	Lazard Developing Markets	Pair Corr
0.83	RLCIX	Lazard Corporate Income	Pair Corr
0.88	RLEMX	Lazard Emerging Markets	Pair Corr

Moving against Lazard Mutual Fund

0.47

RCMPX

Lazard International

Pair Corr

Related Correlations Analysis

	FOBAX	EXEYX	ABLOX	RMVIX	LZSMX	ABRTX	LOMAX	LEOOX	NEXTX	LZESX
FOBAX		0.92	0.89	0.0	0.74	0.02	0.92	0.83	-0.17	0.8	FOBAX
EXEYX	0.92		0.97	0.0	0.72	0.05	0.86	0.84	-0.17	0.82	EXEYX
ABLOX	0.89	0.97		0.0	0.69	0.05	0.87	0.87	-0.23	0.78	ABLOX
RMVIX	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	RMVIX
LZSMX	0.74	0.72	0.69	0.0		0.32	0.69	0.64	0.26	0.91	LZSMX
ABRTX	0.02	0.05	0.05	0.0	0.32		0.01	0.13	0.5	0.32	ABRTX
LOMAX	0.92	0.86	0.87	0.0	0.69	0.01		0.91	-0.38	0.74	LOMAX
LEOOX	0.83	0.84	0.87	0.0	0.64	0.13	0.91		-0.38	0.71	LEOOX
NEXTX	-0.17	-0.17	-0.23	0.0	0.26	0.5	-0.38	-0.38		0.23	NEXTX
LZESX	0.8	0.82	0.78	0.0	0.91	0.32	0.74	0.71	0.23		LZESX
	FOBAX	EXEYX	ABLOX	RMVIX	LZSMX	ABRTX	LOMAX	LEOOX	NEXTX	LZESX

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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

ABLOX	+ 0.97	EXEYX
EXEYX	+ 0.92	FOBAX
LOMAX	+ 0.92	FOBAX
LZESX	+ 0.91	LZSMX
LEOOX	+ 0.91	LOMAX
ABLOX	+ 0.89	FOBAX

High negative correlations

NEXTX	- 0.38	LEOOX
NEXTX	- 0.38	LOMAX
NEXTX	- 0.23	ABLOX
NEXTX	- 0.17	EXEYX
NEXTX	- 0.17	FOBAX
LZESX	- 0.0	RMVIX

Risk-Adjusted Indicators

There is a big difference between Lazard Mutual Fund performing well and Lazard Strategic 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 Strategic'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
FOBAX	0.50	0.09	0.14	0.19	0.12	(0.62)	0.88	(0.74)	10.20
EXEYX	0.87	0.23	0.21	0.42	0.56	(1.13)	1.42	(1.44)	13.51
ABLOX	0.64	0.19	0.24	0.50	0.21	(0.92)	1.00	(0.96)	11.65
RMVIX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LZSMX	0.98	0.09	0.02	0.62	1.16	(1.06)	1.98	(1.83)	5.27
ABRTX	0.48	(0.02)	(0.08)	0.04	0.66	(0.49)	0.99	(1.10)	3.81
LOMAX	0.61	0.11	0.11	0.25	0.40	(0.74)	1.26	(1.00)	4.55
LEOOX	0.10	0.03	(0.34)	2.03	0.00	(0.14)	0.21	(0.11)	0.53
NEXTX	0.86	(0.09)	0.00	(0.02)	0.00	0.00	1.64	(1.92)	4.28
LZESX	0.53	0.01	(0.02)	0.09	0.60	(0.58)	1.05	(1.10)	2.68

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