Lazard International Correlations

LISIX Fund

USD 16.40 0.05 0.31%

The current 90-days correlation between Lazard International and American Beacon International is 0.89 (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

Poor diversification

The correlation between Lazard International Strategic and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lazard International Strategic 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 Strategic. 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

0.9	OCMPX	Lazard International	Pair Corr
0.67	LZCOX	Lazard Small Mid	Pair Corr
0.84	LZEMX	Lazard Emerging Markets	Pair Corr
0.95	LZESX	Lazard International	Pair Corr
0.74	LZHYX	Lazard Corporate Income	Pair Corr
0.96	LZIEX	Lazard International	Pair Corr
0.96	LZIOX	Lazard International	Pair Corr
0.71	LZHOX	Lazard Corporate Income	Pair Corr
0.71	LZISX	Lazard International	Pair Corr
0.84	LZOEX	Lazard Emerging Markets	Pair Corr
0.71	LZSMX	Lazard International	Pair Corr
0.8	GESIX	Lazard Global Equity	Pair Corr
0.92	GESOX	Lazard Global Equity	Pair Corr
0.83	LZUOX	Lazard Strategic Equity	Pair Corr
0.83	LZUSX	Lazard Strategic Equity	Pair Corr
1.0	LISOX	Lazard International	Pair Corr
0.64	UMNIX	Lazard Short Duration	Pair Corr
0.62	UMNOX	Lazard Short Duration	Pair Corr
0.81	RALIX	Lazard Real Assets	Pair Corr
0.77	RALOX	Lazard Real Assets	Pair Corr
0.81	RALYX	Lazard Real Assets	Pair Corr
0.9	RCMPX	Lazard International	Pair Corr
0.78	ECEOX	Lazard Emerging Markets	Pair Corr
0.83	ECEIX	Lazard Emerging Markets	Pair Corr
0.84	READX	Lazard Emerging Markets	Pair Corr
0.9	ICMPX	Lazard International	Pair Corr
0.8	IEAIX	Lazard International	Pair Corr
0.72	CONOX	Lazard Funds	Pair Corr
0.72	CONIX	Columbia Global Tech	Pair Corr
0.84	LCAIX	Lazard Capital Allocator	Pair Corr
0.85	LCAOX	Lazard Capital Allocator	Pair Corr

Related Correlations Analysis

	ABEYX	SEMNX	EMBIX	HLMIX	DDVIX
ABEYX		0.84	0.0	0.9	0.84	ABEYX
SEMNX	0.84		0.0	0.98	0.69	SEMNX
EMBIX	0.0	0.0		0.0	0.0	EMBIX
HLMIX	0.9	0.98	0.0		0.75	HLMIX
DDVIX	0.84	0.69	0.0	0.75		DDVIX
	ABEYX	SEMNX	EMBIX	HLMIX	DDVIX

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	+ 0.98	SEMNX
HLMIX	+ 0.9	ABEYX
SEMNX	+ 0.84	ABEYX
DDVIX	+ 0.84	ABEYX
DDVIX	+ 0.75	HLMIX
DDVIX	+ 0.69	SEMNX

High negative correlations

DDVIX	- 0.0	EMBIX
HLMIX	- 0.0	EMBIX
EMBIX	- 0.0	SEMNX
EMBIX	- 0.0	ABEYX

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	0.63	0.02	0.02	0.09	0.71	(0.65)	1.19	(1.24)	4.52
SEMNX	0.69	0.15	0.13	0.24	0.82	(0.78)	1.54	(0.99)	5.62
EMBIX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HLMIX	0.58	0.06	0.07	0.14	0.57	(0.68)	1.32	(0.86)	4.55
DDVIX	0.54	0.01	0.01	0.08	0.49	(0.70)	1.32	(0.76)	3.65

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