Lazard International Correlations

LZSIX Fund

USD 11.14 0.09 0.81%

The current 90-days correlation between Lazard International and American Beacon International is 0.83 (i.e., Very poor diversification). The correlation of Lazard International 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 International Correlation With Market

Very weak diversification

The correlation between Lazard International Equity and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lazard International Equity 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 International Equity. 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

0.96	LZESX	Lazard International	Pair Corr
0.86	LZFIX	Lazard Equity Franchise	Pair Corr
0.99	LZIOX	Lazard International	Pair Corr
0.92	LZISX	Lazard International	Pair Corr
0.92	LZSMX	Lazard International	Pair Corr
0.95	LISIX	Lazard International	Pair Corr
0.95	LISOX	Lazard International	Pair Corr
0.67	UMNOX	Lazard Short Duration	Pair Corr
0.63	ECEIX	Lazard Emerging Markets	Pair Corr
0.87	ICMPX	Lazard International	Pair Corr
0.75	IEAIX	Lazard International	Pair Corr
0.76	IEAOX	Lazard International	Pair Corr
0.91	VGTSX	Vanguard Total Inter	Pair Corr
0.91	VTIAX	Vanguard Total Inter	Pair Corr
0.91	VTSNX	Vanguard Total Inter	Pair Corr
0.91	VTPSX	Vanguard Total Inter	Pair Corr
0.91	VTISX	Vanguard Total Inter	Pair Corr
0.98	VTMGX	Vanguard Developed	Pair Corr
0.98	VDVIX	Vanguard Developed	Pair Corr
0.98	VTMNX	Vanguard Developed	Pair Corr
0.98	VDIPX	Vanguard Developed	Pair Corr
0.95	FSPSX	Fidelity International	Pair Corr

Moving against Lazard Mutual Fund

0.59	RUSRX	Lazard Systematic Small	Pair Corr
0.42	LZCOX	Lazard Small Mid	Pair Corr
0.42	LZSCX	Lazard Small Mid	Pair Corr
0.4	LZUOX	Lazard Strategic Equity	Pair Corr
0.45	RLUSX	Lazard Strategic Equity	Pair Corr
0.4	LCAIX	Lazard Capital Allocator	Pair Corr
0.82	KINCX	Kinetics Internet	Pair Corr
0.81	KMKCX	Kinetics Market Oppo	Pair Corr
0.8	KNPCX	Kinetics Paradigm	Pair Corr
0.8	KNPAX	Kinetics Paradigm	Pair Corr

Related Correlations Analysis

	ABEYX	SEMNX	HLMIX	DDVIX
ABEYX		0.43	0.9	-0.53	ABEYX
SEMNX	0.43		0.76	0.1	SEMNX
HLMIX	0.9	0.76		-0.31	HLMIX
DDVIX	-0.53	0.1	-0.31		DDVIX
	ABEYX	SEMNX	HLMIX	DDVIX

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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

HLMIX	+ 0.9	ABEYX
HLMIX	+ 0.76	SEMNX
SEMNX	+ 0.43	ABEYX
DDVIX	+ 0.1	SEMNX

High negative correlations

DDVIX	- 0.53	ABEYX
DDVIX	- 0.31	HLMIX

Risk-Adjusted Indicators

There is a big difference between Lazard Mutual Fund performing well and Lazard International 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 International'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	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ABEYX	0.69	(0.15)	0.00	(0.25)	0.00	0.00	1.11	(1.51)	4.02
SEMNX	0.75	(0.05)	(0.11)	(0.01)	0.97	(0.78)	1.57	(1.83)	4.81
HLMIX	0.63	(0.10)	0.00	(0.13)	0.00	0.00	1.30	(1.53)	4.08
DDVIX	0.53	0.06	(0.07)	1.09	0.49	(0.60)	1.04	(0.83)	3.46

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