Lazard Capital Correlations

Mutual Funds . USA . 
Fund . Lazard Capital Allocator
LCAOX Fund  USD 11.25  0.01  0.09%   
The current 90-days correlation between Lazard Capital Allocator and Lazard Capital Allocator is 1.0 (i.e., No risk reduction). The correlation of Lazard Capital 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 Capital Correlation With Market

Poor diversification

The correlation between Lazard Capital Allocator and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lazard Capital Allocator 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 Capital Allocator. 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 persons.

Moving together with Lazard Mutual Fund

  0.96LZCOX Lazard Small MidPairCorr
  0.67GESOX Lazard Global EquityPairCorr
  0.96LZSCX Lazard Small MidPairCorr
  0.96LZUOX Lazard Strategic EquityPairCorr
  0.96LZUSX Lazard Strategic EquityPairCorr
  0.78SUSTX Lazard Sustainable EquityPairCorr
  0.78SUSLX Lazard Sustainable EquityPairCorr
  0.89RUSRX Lazard Systematic SmallPairCorr

Moving against Lazard Mutual Fund

  0.58LZISX Lazard InternationalPairCorr
  0.58LZSMX Lazard InternationalPairCorr
  0.49LZFOX Lazard Equity FranchisePairCorr
  0.49LZFIX Lazard Equity FranchisePairCorr
  0.44LZESX Lazard InternationalPairCorr
  0.39LZSIX Lazard InternationalPairCorr
  0.38LZIEX Lazard InternationalPairCorr
  0.38LZIOX Lazard InternationalPairCorr
  0.44LISIX Lazard InternationalPairCorr
  0.44LISOX Lazard InternationalPairCorr
  0.38UMNOX Lazard Short DurationPairCorr
  0.33UMNIX Lazard Short DurationPairCorr

Related Correlations Analysis

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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   
LZESX
+ 0.89
CIHDX
CHDEX
+ 0.78
LCAIX
AEDFX
+ 0.49
CHDEX
AEDFX
+ 0.33
LCAIX
AEDFX
+ 0.19
LZESX
AEDFX
+ 0.09
CIHDX
  
High negative correlations   
CIHDX
- 0.5
LCAIX
LZESX
- 0.44
LCAIX
CHDEX
- 0.16
CIHDX
LZESX
- 0.07
CHDEX

Risk-Adjusted Indicators

There is a big difference between Lazard Mutual Fund performing well and Lazard Capital 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 Capital'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.

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