Lazard Enhanced Correlations

LEOIX Fund

USD 8.72 0.01 0.11%

The current 90-days correlation between Lazard Enhanced Oppo and Lord Abbett High is -0.05 (i.e., Good diversification). The correlation of Lazard Enhanced 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 Enhanced Correlation With Market

Significant diversification

The correlation between Lazard Enhanced Opportunities and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lazard Enhanced Opportunities 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 Enhanced Opportunities. 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 gross domestic product.

Moving together with LAZARD Mutual Fund

0.8	LZCOX	Lazard Small Mid	Pair Corr
0.8	LZSCX	Lazard Small Mid	Pair Corr
0.77	LZUOX	Lazard Strategic Equity	Pair Corr
0.77	LZUSX	Lazard Strategic Equity	Pair Corr
0.61	SUSTX	Lazard Sustainable Equity	Pair Corr
0.85	RUSRX	Lazard Systematic Small	Pair Corr

Moving against LAZARD Mutual Fund

0.82	LZISX	Lazard International	Pair Corr
0.82	LZSMX	Lazard International	Pair Corr
0.71	LZESX	Lazard International	Pair Corr
0.69	LZSIX	Lazard International	Pair Corr
0.68	LZFOX	Lazard Equity Franchise	Pair Corr
0.68	LZFIX	Lazard Equity Franchise	Pair Corr
0.68	LZIEX	Lazard International	Pair Corr
0.68	LZIOX	Lazard International	Pair Corr
0.33	OCMPX	Lazard International	Pair Corr
0.76	LISIX	Lazard International	Pair Corr
0.76	LISOX	Lazard International	Pair Corr
0.39	UMNOX	Lazard Short Duration	Pair Corr
0.33	UMNIX	Lazard Short Duration	Pair Corr
0.33	RCMPX	Lazard International	Pair Corr
0.33	ICMPX	Lazard International	Pair Corr
0.31	GLFOX	Lazard Global Listed	Pair Corr

Related Correlations Analysis

	LHYOX	PKHIX	ARTFX	CYBAX	AHYMX	PHYEX	PHYZX
LHYOX		0.97	0.96	0.91	0.78	0.92	0.93	LHYOX
PKHIX	0.97		0.94	0.92	0.81	0.86	0.88	PKHIX
ARTFX	0.96	0.94		0.82	0.78	0.86	0.93	ARTFX
CYBAX	0.91	0.92	0.82		0.74	0.89	0.86	CYBAX
AHYMX	0.78	0.81	0.78	0.74		0.7	0.74	AHYMX
PHYEX	0.92	0.86	0.86	0.89	0.7		0.93	PHYEX
PHYZX	0.93	0.88	0.93	0.86	0.74	0.93		PHYZX
	LHYOX	PKHIX	ARTFX	CYBAX	AHYMX	PHYEX	PHYZX

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Risk-Adjusted Indicators

There is a big difference between LAZARD Mutual Fund performing well and Lazard Enhanced 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 Enhanced'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
LHYOX	0.13	0.03	(0.44)	9.50	(0.21)	0.31	(0.16)	0.93
PKHIX	0.11	0.02	(0.48)	(1.46)	(0.19)	0.34	(0.22)	0.90
ARTFX	0.12	0.03	(0.54)	0.62	(0.20)	0.33	(0.22)	1.01
CYBAX	0.10	0.01	(0.78)	(4.99)	(0.13)	0.24	(0.16)	0.73
AHYMX	0.10	0.02	(0.31)	(0.35)	(0.17)	0.33	(0.22)	1.09
PHYEX	0.13	0.03	(0.39)	(0.54)	(0.26)	0.41	(0.21)	1.05
PHYZX	0.13	0.02	(0.41)	1.36	(0.28)	0.42	(0.21)	0.63

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