Lazard Emerging Correlations

Mutual Funds . USA . 
Fund . Lazard Emerging Markets
LZOEX Fund  USD 20.07  0.11  0.55%   
The current 90-days correlation between Lazard Emerging Markets and Thornburg International Value is 0.76 (i.e., Poor diversification). The correlation of Lazard Emerging 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 Emerging Correlation With Market

Weak diversification

The correlation between Lazard Emerging Markets and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lazard Emerging Markets 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 Emerging Markets. 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 income.

Moving together with Lazard Mutual Fund

  0.65OCMPX Lazard InternationalPairCorr
  0.74LZFOX Lazard Equity FranchisePairCorr
  0.95LZEMX Lazard Emerging MarketsPairCorr
  0.7LZESX Lazard InternationalPairCorr
  0.75LZFIX Lazard Equity FranchisePairCorr
  0.62LZHYX Lazard Corporate IncomePairCorr
  0.74LZIEX Lazard InternationalPairCorr
  0.74LZIOX Lazard InternationalPairCorr
  0.81LZHOX Lazard Corporate IncomePairCorr
  0.82LZISX Lazard InternationalPairCorr
  0.69LZSIX Lazard InternationalPairCorr
  0.68LZSMX Lazard InternationalPairCorr
  0.78LISIX Lazard InternationalPairCorr
  0.78LISOX Lazard InternationalPairCorr
  0.73UMNIX Lazard Short DurationPairCorr
  0.75UMNOX Lazard Short DurationPairCorr
  0.94RALIX Lazard Real AssetsPairCorr
  0.94RALOX Lazard Real AssetsPairCorr
  0.79RALYX Lazard Real AssetsPairCorr
  0.76RCMPX Lazard InternationalPairCorr
  0.93ECEOX Lazard Emerging MarketsPairCorr
  0.78ECEIX Lazard Emerging MarketsPairCorr
  0.87READX Lazard Emerging MarketsPairCorr
  0.78GLIFX Lazard Global ListedPairCorr
  0.67ICMPX Lazard InternationalPairCorr
  0.95IEAIX Lazard InternationalPairCorr
  0.95IEAOX Lazard InternationalPairCorr

Moving against Lazard Mutual Fund

  0.4RUSRX Lazard Systematic SmallPairCorr
  0.4LUSIX Lazard FundsPairCorr
  0.4LUSOX Lazard FundsPairCorr
  0.33RLSMX Lazard Small MidPairCorr

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   
FMIEX
+ 0.97
TGVAX
HIINX
+ 0.95
TGVAX
HIINX
+ 0.94
FMIEX
HIINX
+ 0.35
HLEMX
HLEMX
+ 0.24
TGVAX
FMIEX
+ 0.19
HLEMX
  
High negative correlations   
JMCVX
- 0.43
HIINX
JMCVX
- 0.35
TGVAX
JMCVX
- 0.3
FMIEX

Risk-Adjusted Indicators

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