Correlation Between Lazard Emerging and Great West
Can any of the company-specific risk be diversified away by investing in both Lazard Emerging and Great West at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Lazard Emerging and Great West into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Lazard Emerging Markets and Great West Real Estate, you can compare the effects of market volatilities on Lazard Emerging and Great West and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Lazard Emerging with a short position of Great West. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lazard Emerging and Great West.
Diversification Opportunities for Lazard Emerging and Great West
0.46 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Lazard and Great is 0.46. Overlapping area represents the amount of risk that can be diversified away by holding Lazard Emerging Markets and Great West Real Estate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Great West Real and Lazard Emerging is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Lazard Emerging Markets are associated (or correlated) with Great West. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Great West Real has no effect on the direction of Lazard Emerging i.e., Lazard Emerging and Great West go up and down completely randomly.
Pair Corralation between Lazard Emerging and Great West
Assuming the 90 days horizon Lazard Emerging Markets is expected to generate 13.4 times more return on investment than Great West. However, Lazard Emerging is 13.4 times more volatile than Great West Real Estate. It trades about 0.14 of its potential returns per unit of risk. Great West Real Estate is currently generating about 0.04 per unit of risk. If you would invest 1,215 in Lazard Emerging Markets on September 4, 2025 and sell it today you would earn a total of 1,253 from holding Lazard Emerging Markets or generate 103.13% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Lazard Emerging Markets vs. Great West Real Estate
Performance |
| Timeline |
| Lazard Emerging Markets |
| Great West Real |
Lazard Emerging and Great West Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lazard Emerging and Great West
The main advantage of trading using opposite Lazard Emerging and Great West positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lazard Emerging position performs unexpectedly, Great West can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Great West will offset losses from the drop in Great West's long position.| Lazard Emerging vs. Astor Longshort Fund | Lazard Emerging vs. Alpine Ultra Short | Lazard Emerging vs. Aamhimco Short Duration | Lazard Emerging vs. Short Intermediate Bond Fund |
| Great West vs. Delaware Minnesota High Yield | Great West vs. John Hancock High | Great West vs. Blackrock High Income | Great West vs. Franklin California High |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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