Lazard Real Correlations

RALOX Fund

USD 10.44 0.02 0.19%

The current 90-days correlation between Lazard Real Assets and Aqr Diversified Arbitrage is 0.02 (i.e., Significant diversification). The correlation of Lazard Real 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 Real Correlation With Market

Very weak diversification

The correlation between Lazard Real Assets and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lazard Real Assets and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Lazard Real Assets. 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 persons.

Moving together with Lazard Mutual Fund

0.79	OCMPX	Lazard International	Pair Corr
0.76	LZEMX	Lazard Emerging Markets	Pair Corr
0.78	LZESX	Lazard International	Pair Corr
0.76	LZHYX	Lazard Corporate Income	Pair Corr
0.84	LZIEX	Lazard International	Pair Corr
0.85	LZIOX	Lazard International	Pair Corr
0.77	LZHOX	Lazard Corporate Income	Pair Corr
0.7	LZISX	Lazard International	Pair Corr
0.76	LZOEX	Lazard Emerging Markets	Pair Corr
0.78	LZSIX	Lazard International	Pair Corr
0.7	LZSMX	Lazard International	Pair Corr
0.65	SUSTX	Lazard Sustainable Equity	Pair Corr
0.65	SUSLX	Lazard Sustainable Equity	Pair Corr
1.0	RALIX	Lazard Real Assets	Pair Corr
1.0	RALYX	Lazard Real Assets	Pair Corr
0.79	RCMPX	Lazard International	Pair Corr
0.66	ECEOX	Lazard Emerging Markets	Pair Corr
0.66	ECEIX	Lazard Emerging Markets	Pair Corr
0.65	READX	Lazard Emerging Markets	Pair Corr
0.93	GLFOX	Lazard Global Listed	Pair Corr
0.93	GLIFX	Lazard Global Listed	Pair Corr
0.79	ICMPX	Lazard International	Pair Corr
0.84	IEAIX	Lazard International	Pair Corr
0.84	IEAOX	Lazard International	Pair Corr

Related Correlations Analysis

	QDARX	PGBAX	WDIAX	BDVFX	FZABX	PRDAX	XWDIX
QDARX		0.57	0.33	-0.23	0.11	0.07	-0.35	QDARX
PGBAX	0.57		0.73	0.6	0.78	0.64	0.39	PGBAX
WDIAX	0.33	0.73		0.55	0.82	0.93	0.35	WDIAX
BDVFX	-0.23	0.6	0.55		0.81	0.71	0.86	BDVFX
FZABX	0.11	0.78	0.82	0.81		0.89	0.64	FZABX
PRDAX	0.07	0.64	0.93	0.71	0.89		0.53	PRDAX
XWDIX	-0.35	0.39	0.35	0.86	0.64	0.53		XWDIX
	QDARX	PGBAX	WDIAX	BDVFX	FZABX	PRDAX	XWDIX

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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

PRDAX	+ 0.93	WDIAX
PRDAX	+ 0.89	FZABX
XWDIX	+ 0.86	BDVFX
FZABX	+ 0.82	WDIAX
FZABX	+ 0.81	BDVFX
FZABX	+ 0.78	PGBAX

High negative correlations

XWDIX	- 0.35	QDARX
BDVFX	- 0.23	QDARX

Risk-Adjusted Indicators

There is a big difference between Lazard Mutual Fund performing well and Lazard Real 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 Real'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
QDARX	0.08	0.03	0.49	1.95	0.00	(0.14)	0.25	(0.08)	0.49
PGBAX	0.15	0.02	0.22	0.26	0.00	(0.19)	0.34	(0.25)	0.93
WDIAX	0.55	0.02	0.03	0.01	0.76	(0.56)	1.07	(0.96)	3.64
BDVFX	0.26	0.01	0.06	0.01	0.33	(0.30)	0.54	(0.54)	1.91
FZABX	0.69	0.01	0.02	0.00	1.20	(0.61)	1.21	(1.19)	5.64
PRDAX	0.41	(0.02)	0.00	(0.09)	0.00	0.00	0.87	(0.77)	2.56
XWDIX	0.22	(0.02)	0.00	0.21	0.00	0.00	0.33	(0.72)	2.17

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