Lazard Corporate Correlations

LZHYX Fund  USD 18.22  0.01  0.05%   
The correlation of Lazard Corporate 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 Corporate Correlation With Market

Weak diversification

The correlation between Lazard Corporate Income and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lazard Corporate Income 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 Corporate Income. 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 manufacturing.

Moving together with Lazard Mutual Fund

  0.63LZCOX Lazard Small MidPairCorr
  1.0LZHOX Lazard Corporate IncomePairCorr
  0.65GESIX Lazard Global EquityPairCorr
  0.65GESOX Lazard Global EquityPairCorr
  0.63LZSCX Lazard Small MidPairCorr
  0.67SUSTX Lazard Sustainable EquityPairCorr

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   
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LZIEXLZESX
LZEMXOCMPX
LZIEXLZFOX
LZIEXLZFIX
LZIEXOCMPX
  
High negative correlations   
LZESXLZCOX
LZFOXLZCOX
LZFIXLZCOX
LZIEXLZCOX
LZCOXOCMPX
LZEMXLZCOX

Risk-Adjusted Indicators

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