Lazard Real Correlations

RALOX Fund

USD 10.41 0.17 1.61%

The current 90-days correlation between Lazard Real Assets and Invesco Global Health is 0.57 (i.e., Very weak 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 0.44 (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
0.75	LZFOX	Lazard Equity Franchise	Pair Corr
0.94	LZEMX	Lazard Emerging Markets	Pair Corr
0.96	LZESX	Lazard International	Pair Corr
0.75	LZFIX	Lazard Equity Franchise	Pair Corr
0.9	LZHYX	Lazard Corporate Income	Pair Corr
0.95	LZIEX	Lazard International	Pair Corr
0.95	LZIOX	Lazard International	Pair Corr
0.9	LZHOX	Lazard Corporate Income	Pair Corr
0.92	LZISX	Lazard International	Pair Corr
0.8	LZOEX	Lazard Emerging Markets	Pair Corr
0.96	LZSIX	Lazard International	Pair Corr
0.79	LZSMX	Lazard International	Pair Corr
0.97	LISIX	Lazard International	Pair Corr
0.82	LISOX	Lazard International	Pair Corr
0.7	UMNIX	Lazard Short Duration	Pair Corr
0.85	UMNOX	Lazard Short Duration	Pair Corr
1.0	RALIX	Lazard Real Assets	Pair Corr
1.0	RALYX	Lazard Real Assets	Pair Corr
0.8	RCMPX	Lazard International	Pair Corr
0.76	ECEOX	Lazard Emerging Markets	Pair Corr
0.83	ECEIX	Lazard Emerging Markets	Pair Corr
0.85	READX	Lazard Emerging Markets	Pair Corr
0.79	GLFOX	Lazard Global Listed	Pair Corr
0.79	GLIFX	Lazard Global Listed	Pair Corr
0.76	ICMPX	Lazard International	Pair Corr
0.95	IEAIX	Lazard International	Pair Corr
0.95	IEAOX	Lazard International	Pair Corr

Moving against Lazard Mutual Fund

0.37	LZCOX	Lazard Small Mid	Pair Corr
0.43	RUSRX	Lazard Systematic Small	Pair Corr
0.37	LZSCX	Lazard Small Mid	Pair Corr
0.43	LUSOX	Lazard Funds	Pair Corr
0.32	LUSIX	Lazard Funds	Pair Corr

Related Correlations Analysis

	GTHIX	VGHCX	PHSTX	DLRHX	LOGSX	BGHDX	ECHSX
GTHIX		0.24	0.72	0.74	0.7	0.03	0.87	GTHIX
VGHCX	0.24		0.53	0.2	0.36	0.6	0.2	VGHCX
PHSTX	0.72	0.53		0.8	0.75	0.16	0.87	PHSTX
DLRHX	0.74	0.2	0.8		0.63	-0.12	0.9	DLRHX
LOGSX	0.7	0.36	0.75	0.63		0.11	0.8	LOGSX
BGHDX	0.03	0.6	0.16	-0.12	0.11		-0.11	BGHDX
ECHSX	0.87	0.2	0.87	0.9	0.8	-0.11		ECHSX
	GTHIX	VGHCX	PHSTX	DLRHX	LOGSX	BGHDX	ECHSX

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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

ECHSX	+ 0.9	DLRHX
ECHSX	+ 0.87	GTHIX
ECHSX	+ 0.87	PHSTX
DLRHX	+ 0.8	PHSTX
ECHSX	+ 0.8	LOGSX
LOGSX	+ 0.75	PHSTX

High negative correlations

BGHDX	- 0.12	DLRHX
ECHSX	- 0.11	BGHDX

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
GTHIX	0.75	(0.01)	0.00	(0.09)	0.00	0.00	1.25	(1.65)	4.99
VGHCX	0.77	(0.15)	0.00	0.41	0.00	0.00	1.49	(1.50)	8.17
PHSTX	0.66	0.01	0.00	(0.05)	0.00	0.00	1.34	(1.12)	4.12
DLRHX	0.64	0.01	0.11	(0.11)	0.76	(0.76)	1.30	(1.24)	3.41
LOGSX	0.67	0.01	0.00	(0.04)	0.00	0.00	1.18	(1.52)	3.69
BGHDX	0.02	(0.02)	0.00	(1.07)	0.00	0.00	0.00	0.00	0.35
ECHSX	0.65	0.05	0.10	0.03	0.77	(0.69)	1.34	(1.22)	3.92

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