Lazard Correlations

LAZ Stock

USD 46.14 0.42 0.92%

The current 90-days correlation between Lazard and PJT Partners is 0.59 (i.e., Very weak diversification). The correlation of Lazard 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 Correlation With Market

Very weak diversification

The correlation between Lazard and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lazard 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. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

For more information on how to buy Lazard Stock please use our How to Invest in Lazard guide.

Moving together with Lazard Stock

0.89	BN	Brookfield Corp	Pair Corr
0.73	BX	Blackstone Group Normal Trading	Pair Corr
0.76	CG	Carlyle Group	Pair Corr
0.73	GS	Goldman Sachs Group	Pair Corr
0.84	MC	Moelis	Pair Corr
0.78	MS	Morgan Stanley	Pair Corr
0.77	PX	P10 Inc	Pair Corr
0.69	QD	Qudian Inc	Pair Corr
0.69	RC	Ready Capital Corp	Pair Corr
0.86	RM	Regional Management Corp	Pair Corr
0.82	SF	Stifel Financial	Pair Corr
0.62	WT	WisdomTree	Pair Corr
0.84	VCTR	Victory Capital Holdings	Pair Corr
0.81	VINP	Vinci Partners Inves	Pair Corr
0.61	VIRT	Virtu Financial	Pair Corr

Moving against Lazard Stock

0.43	DB	Deutsche Bank AG Buyout Trend	Pair Corr
0.41	LU	Lufax Holding	Pair Corr
0.33	DX	Dynex Capital	Pair Corr
0.63	TW	Tradeweb Markets	Pair Corr
0.44	DMYY	dMY Squared Technology	Pair Corr
0.58	DYCQ	DT Cloud Acquisition	Pair Corr
0.36	VMCA	Valuence Merger Corp	Pair Corr
0.36	EMCG	Embrace Change Acqui	Pair Corr

Related Correlations Analysis

	PJT	MC	HLI	PIPR	PWP	EVR	SRL	SF
PJT		0.85	0.84	0.78	0.74	0.68	0.11	0.77	PJT
MC	0.85		0.95	0.92	0.94	0.92	-0.02	0.93	MC
HLI	0.84	0.95		0.92	0.94	0.88	-0.07	0.94	HLI
PIPR	0.78	0.92	0.92		0.93	0.96	-0.23	0.89	PIPR
PWP	0.74	0.94	0.94	0.93		0.93	-0.13	0.95	PWP
EVR	0.68	0.92	0.88	0.96	0.93		-0.26	0.88	EVR
SRL	0.11	-0.02	-0.07	-0.23	-0.13	-0.26		0.03	SRL
SF	0.77	0.93	0.94	0.89	0.95	0.88	0.03		SF
	PJT	MC	HLI	PIPR	PWP	EVR	SRL	SF

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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

EVR	+ 0.96	PIPR
HLI	+ 0.95	MC
SF	+ 0.95	PWP
PWP	+ 0.94	MC
PWP	+ 0.94	HLI
SF	+ 0.94	HLI

High negative correlations

SRL	- 0.26	EVR
SRL	- 0.23	PIPR
SRL	- 0.13	PWP
SRL	- 0.07	HLI
SRL	- 0.02	MC

Risk-Adjusted Indicators

There is a big difference between Lazard Stock performing well and Lazard Company 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'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
PJT	1.59	(0.07)	0.00	(0.15)	0.00	0.00	3.41	(2.79)	11.57
MC	1.70	(0.20)	0.00	(0.23)	0.00	0.00	2.78	(4.40)	8.78
HLI	1.38	(0.07)	0.00	(0.16)	0.00	0.00	1.98	(3.01)	8.89
PIPR	1.56	(0.22)	0.00	(0.26)	0.00	0.00	2.82	(3.91)	9.43
PWP	2.22	(0.23)	0.00	(0.25)	0.00	0.00	4.67	(5.26)	14.41
EVR	1.86	(0.39)	0.00	(0.35)	0.00	0.00	2.33	(5.48)	11.75
SRL	2.43	0.27	0.13	2.48	2.48	(3.04)	4.40	(4.12)	41.32
SF	1.51	(0.07)	0.00	(0.15)	0.00	0.00	2.35	(4.04)	7.51

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