Lazard Emerging Correlations

Mutual Funds . USA . 
Fund . Lazard Emerging Markets
LZOEX Fund  USD 19.38  0.31  1.57%   
The current 90-days correlation between Lazard Emerging Markets and Thornburg International Value is 0.7 (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

Modest diversification

The correlation between Lazard Emerging Markets and DJI is 0.27 (i.e., Modest 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

  0.86OCMPX Lazard InternationalPairCorr
  1.0LZEMX Lazard Emerging MarketsPairCorr
  0.96LZESX Lazard InternationalPairCorr
  0.86LZHYX Lazard Corporate IncomePairCorr
  0.77LZIEX Lazard InternationalPairCorr
  0.78LZIOX Lazard InternationalPairCorr
  0.86LZHOX Lazard Corporate IncomePairCorr
  0.93LZISX Lazard InternationalPairCorr
  0.97LZSIX Lazard InternationalPairCorr
  0.93LZSMX Lazard InternationalPairCorr
  0.77UMNIX Lazard Short DurationPairCorr
  0.76UMNOX Lazard Short DurationPairCorr
  0.77RALIX Lazard Real AssetsPairCorr
  0.76RALOX Lazard Real AssetsPairCorr
  0.77RALYX Lazard Real AssetsPairCorr
  0.86RCMPX Lazard InternationalPairCorr
  0.89ECEOX Lazard Emerging MarketsPairCorr
  0.89ECEIX Lazard Emerging MarketsPairCorr
  0.91READX Lazard Emerging MarketsPairCorr
  0.73GLFOX Lazard Global ListedPairCorr
  0.73GLIFX Lazard Global ListedPairCorr
  0.86ICMPX Lazard InternationalPairCorr
  0.8IEAIX Lazard InternationalPairCorr
  0.8IEAOX Lazard InternationalPairCorr

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   
HIINX
+ 0.93
TGVAX
JMCVX
+ 0.76
HLEMX
HIINX
+ 0.72
FMIEX
JMCVX
+ 0.72
FMIEX
FMIEX
+ 0.6
HLEMX
FMIEX
+ 0.54
TGVAX
  
High negative correlations   
JMCVX
- 0.05
TGVAX
HLEMX
- 0.0
TGVAX

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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