Lazard International Correlations

RLIEX Fund

USD 17.41 0.19 1.08%

The current 90-days correlation between Lazard International and Financial Industries Fund is 0.69 (i.e., 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 Your Equity Center 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 income.

Moving together with Lazard Mutual Fund

0.69	OCMPX	Lazard International	Pair Corr
0.7	LZFOX	Lazard Equity Franchise	Pair Corr
0.92	LZEMX	Lazard Emerging Markets	Pair Corr
0.96	LZESX	Lazard International	Pair Corr
0.84	LZFIX	Lazard Equity Franchise	Pair Corr
0.84	LZHYX	Lazard Corporate Income	Pair Corr
0.97	LZIEX	Lazard International	Pair Corr
1.0	LZIOX	Lazard International	Pair Corr
0.83	LZHOX	Lazard Corporate Income	Pair Corr
0.94	LZISX	Lazard International	Pair Corr
0.93	LZOEX	Lazard Emerging Markets	Pair Corr
0.96	LZSIX	Lazard International	Pair Corr
0.94	LZSMX	Lazard International	Pair Corr
0.86	LISIX	Lazard International	Pair Corr
0.86	LISOX	Lazard International	Pair Corr
0.9	UMNIX	Lazard Short Duration	Pair Corr
0.9	UMNOX	Lazard Short Duration	Pair Corr
0.92	RALIX	Lazard Real Assets	Pair Corr
0.92	RALOX	Lazard Real Assets	Pair Corr
0.92	RALYX	Lazard Real Assets	Pair Corr
0.7	RCMPX	Lazard International	Pair Corr
0.84	ECEOX	Lazard Emerging Markets	Pair Corr
0.84	ECEIX	Lazard Emerging Markets	Pair Corr
0.87	READX	Lazard Emerging Markets	Pair Corr
0.94	GLFOX	Lazard Global Listed	Pair Corr
0.94	GLIFX	Lazard Global Listed	Pair Corr
0.7	ICMPX	Lazard International	Pair Corr
0.99	IEAIX	Lazard International	Pair Corr
0.99	IEAOX	Lazard International	Pair Corr

Moving against Lazard Mutual Fund

0.62	RUSRX	Lazard Systematic Small	Pair Corr
0.55	LZCOX	Lazard Small Mid	Pair Corr
0.55	LZSCX	Lazard Small Mid	Pair Corr
0.38	LZUOX	Lazard Strategic Equity	Pair Corr
0.38	LZUSX	Lazard Strategic Equity	Pair Corr
0.62	LUSOX	Lazard Funds	Pair Corr
0.61	LUSIX	Lazard Funds	Pair Corr
0.55	RLSMX	Lazard Small Mid	Pair Corr
0.52	RLUEX	Lazard Equity Concen	Pair Corr
0.52	LEVOX	Lazard Equity Centrated	Pair Corr
0.52	LEVIX	Lazard Equity Centrated	Pair Corr
0.47	CONOX	Lazard Funds	Pair Corr
0.45	CONIX	Columbia Global Tech	Pair Corr
0.38	RLUSX	Lazard Strategic Equity	Pair Corr

Related Correlations Analysis

	FIDAX	GCFSX	SWGXX	SPAXX	HEWXX	HUCXX	DVFYX
FIDAX		0.3	0.02	-0.05	0.0	0.0	0.65	FIDAX
GCFSX	0.3		0.51	0.8	0.0	0.0	0.86	GCFSX
SWGXX	0.02	0.51		0.43	0.0	0.0	0.43	SWGXX
SPAXX	-0.05	0.8	0.43		0.0	0.0	0.51	SPAXX
HEWXX	0.0	0.0	0.0	0.0		0.0	0.0	HEWXX
HUCXX	0.0	0.0	0.0	0.0	0.0		0.0	HUCXX
DVFYX	0.65	0.86	0.43	0.51	0.0	0.0		DVFYX
	FIDAX	GCFSX	SWGXX	SPAXX	HEWXX	HUCXX	DVFYX

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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

DVFYX	+ 0.86	GCFSX
SPAXX	+ 0.8	GCFSX
DVFYX	+ 0.65	FIDAX
SWGXX	+ 0.51	GCFSX
DVFYX	+ 0.51	SPAXX
SPAXX	+ 0.43	SWGXX

High negative correlations

SPAXX	- 0.05	FIDAX
DVFYX	- 0.0	HUCXX
DVFYX	- 0.0	HEWXX
HUCXX	- 0.0	HEWXX
HUCXX	- 0.0	SPAXX
HEWXX	- 0.0	SPAXX

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
FIDAX	0.94	(0.08)	0.00	(0.07)	0.00	0.00	2.02	(2.86)	7.13
GCFSX	0.75	0.09	0.08	(0.70)	0.97	(0.78)	1.80	(2.41)	4.68
SWGXX	0.03	0.01	0.00	(3.12)	0.00	0.00	0.00	0.00	1.01
SPAXX	0.03	0.01	0.00	(0.32)	0.00	0.00	0.00	0.00	1.01
HEWXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HUCXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DVFYX	0.84	0.05	0.04	(0.58)	1.25	(0.81)	1.65	(2.39)	6.47

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