Lazard Short Correlations

UMNIX Fund

USD 9.56 0.01 0.10%

The current 90-days correlation between Lazard Short Duration and Barings High Yield is 0.04 (i.e., Significant diversification). The correlation of Lazard Short 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 Short Correlation With Market

Significant diversification

The correlation between Lazard Short Duration and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lazard Short Duration and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Lazard Short Duration. 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

0.62	PTSPX	Pimco Short Term	Pair Corr
0.61	PTSHX	Short Term Fund	Pair Corr
0.61	PTSRX	Short Term Fund	Pair Corr
0.7	PSDNX	Putnam Ultra Short	Pair Corr
0.79	LUSNX	Lord Abbett Ultra	Pair Corr
0.69	VUBFX	Vanguard Ultra-short-term	Pair Corr
0.7	PSDRX	Putnam Short Duration	Pair Corr
0.7	PSDYX	Putnam Short Duration	Pair Corr
0.65	BRUFX	Bruce Fund Bruce	Pair Corr
0.77	KF	Korea Closed	Pair Corr
0.68	PFE	Pfizer Inc Sell-off Trend	Pair Corr
0.68	IBM	International Business	Pair Corr
0.61	JPM	JPMorgan Chase Sell-off Trend	Pair Corr

Moving against Lazard Mutual Fund

0.58	HPQ	HP Inc	Pair Corr
0.46	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	BXHCX	BBINX	SNCAX	MBSAX	ANBIX	TTRBX	PRVBX
BXHCX		0.91	0.82	0.89	0.76	0.88	0.84	BXHCX
BBINX	0.91		0.88	0.85	0.73	0.86	0.8	BBINX
SNCAX	0.82	0.88		0.93	0.72	0.94	0.75	SNCAX
MBSAX	0.89	0.85	0.93		0.73	0.98	0.77	MBSAX
ANBIX	0.76	0.73	0.72	0.73		0.76	0.94	ANBIX
TTRBX	0.88	0.86	0.94	0.98	0.76		0.81	TTRBX
PRVBX	0.84	0.8	0.75	0.77	0.94	0.81		PRVBX
	BXHCX	BBINX	SNCAX	MBSAX	ANBIX	TTRBX	PRVBX

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Risk-Adjusted Indicators

There is a big difference between Lazard Mutual Fund performing well and Lazard Short 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 Short'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
BXHCX	0.13	0.03	(1.11)	0.58	0.00	(0.22)	0.49	(0.13)	0.98
BBINX	0.10	0.01	(1.70)	(0.94)	0.00	(0.15)	0.20	(0.20)	0.70
SNCAX	0.07	0.00	(2.04)	0.00	0.00	(0.11)	0.15	(0.15)	0.44
MBSAX	0.23	0.05	(0.56)	(2.10)	0.13	(0.27)	0.51	(0.43)	1.39
ANBIX	0.13	0.02	(0.86)	(0.12)	0.13	(0.15)	0.19	(0.29)	0.77
TTRBX	0.15	0.02	(1.10)	(5.82)	0.00	(0.20)	0.31	(0.20)	0.81
PRVBX	0.08	0.01	(1.47)	0.45	0.00	(0.09)	0.19	(0.17)	0.48

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