Lazard Global Correlations

GESIX Fund

USD 18.99 0.04 0.21%

The current 90-days correlation between Lazard Global Equity and Western Asset Total is 0.2 (i.e., Modest diversification). The correlation of Lazard Global 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 Global Correlation With Market

Very poor diversification

The correlation between Lazard Global Equity and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lazard Global Equity and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Lazard Global 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 gross domestic product.

Moving together with Lazard Mutual Fund

0.98	OCMPX	Lazard International	Pair Corr
0.93	LZCOX	Lazard Small Mid	Pair Corr
0.93	LZFOX	Lazard Equity Franchise	Pair Corr
0.96	LZEMX	Lazard Emerging Markets	Pair Corr
0.99	LZESX	Lazard International	Pair Corr
0.93	LZFIX	Lazard Equity Franchise	Pair Corr
0.96	LZHYX	Lazard Corporate Income	Pair Corr
0.98	LZIEX	Lazard International	Pair Corr
0.98	LZIOX	Lazard International	Pair Corr
0.96	LZHOX	Lazard Corporate Income	Pair Corr
0.95	LZISX	Lazard International	Pair Corr
0.96	LZOEX	Lazard Emerging Markets	Pair Corr
0.99	LZSIX	Lazard International	Pair Corr
0.95	LZSMX	Lazard International	Pair Corr
1.0	GESOX	Lazard Global Equity	Pair Corr
0.93	LZSCX	Lazard Small Mid	Pair Corr
0.98	LZUOX	Lazard Strategic Equity	Pair Corr
0.98	LZUSX	Lazard Strategic Equity	Pair Corr
0.97	LISIX	Lazard International	Pair Corr
0.97	LISOX	Lazard International	Pair Corr
0.99	SUSTX	Lazard Sustainable Equity	Pair Corr
0.99	SUSLX	Lazard Sustainable Equity	Pair Corr
0.73	UMNIX	Lazard Short Duration	Pair Corr
0.72	UMNOX	Lazard Short Duration	Pair Corr
0.89	RALIX	Lazard Real Assets	Pair Corr
0.89	RALOX	Lazard Real Assets	Pair Corr
0.89	RALYX	Lazard Real Assets	Pair Corr
0.98	RCMPX	Lazard International	Pair Corr
0.91	RUSRX	Lazard Systematic Small	Pair Corr
0.97	ECEOX	Lazard Emerging Markets	Pair Corr
0.97	ECEIX	Lazard Emerging Markets	Pair Corr
0.96	READX	Lazard Emerging Markets	Pair Corr
0.92	GLFOX	Lazard Global Listed	Pair Corr
0.92	GLIFX	Lazard Global Listed	Pair Corr
0.98	ICMPX	Lazard International	Pair Corr
0.89	IEAIX	Lazard International	Pair Corr
0.95	CONOX	Lazard Funds	Pair Corr
0.95	CONIX	Columbia Global Tech	Pair Corr

Related Correlations Analysis

	WAARX	PJGZX	ODVNX	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3	SITKF
WAARX		0.89	0.81	0.85	0.89	0.82	0.87	0.0	0.29	0.22	WAARX
PJGZX	0.89		0.97	0.99	0.99	0.97	0.99	0.0	-0.03	-0.07	PJGZX
ODVNX	0.81	0.97		0.99	0.97	0.96	0.98	0.0	-0.18	-0.18	ODVNX
MSTSX	0.85	0.99	0.99		0.99	0.98	1.0	0.0	-0.11	-0.16	MSTSX
LBHIX	0.89	0.99	0.97	0.99		0.97	0.99	0.0	-0.06	-0.09	LBHIX
VIASP	0.82	0.97	0.96	0.98	0.97		0.98	0.0	-0.15	-0.19	VIASP
RRTLX	0.87	0.99	0.98	1.0	0.99	0.98		0.0	-0.1	-0.13	RRTLX
OSHDF	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	OSHDF
70082LAB3	0.29	-0.03	-0.18	-0.11	-0.06	-0.15	-0.1	0.0		0.75	70082LAB3
SITKF	0.22	-0.07	-0.18	-0.16	-0.09	-0.19	-0.13	0.0	0.75		SITKF
	WAARX	PJGZX	ODVNX	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3	SITKF

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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

RRTLX	+ 1.0	MSTSX
MSTSX	+ 0.99	PJGZX
LBHIX	+ 0.99	PJGZX
RRTLX	+ 0.99	PJGZX
MSTSX	+ 0.99	ODVNX
LBHIX	+ 0.99	MSTSX

High negative correlations

SITKF	- 0.19	VIASP
SITKF	- 0.18	ODVNX
70082LAB3	- 0.18	ODVNX
SITKF	- 0.16	MSTSX
70082LAB3	- 0.15	VIASP
SITKF	- 0.13	RRTLX

Risk-Adjusted Indicators

There is a big difference between Lazard Mutual Fund performing well and Lazard Global 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 Global'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
WAARX	0.16	0.02	(0.48)	0.88	0.00	(0.19)	0.33	(0.33)	0.77
PJGZX	0.56	0.11	0.10	0.28	0.49	(0.67)	1.77	(1.01)	4.04
ODVNX	0.54	0.15	0.11	0.50	0.28	(0.61)	1.57	(1.09)	3.98
MSTSX	0.49	0.10	0.07	0.28	0.32	(0.57)	1.45	(1.17)	3.51
LBHIX	0.18	0.05	(0.20)	0.44	0.00	(0.33)	0.49	(0.24)	1.22
VIASP	0.45	0.15	0.09	1.19	0.00	(0.58)	1.01	(0.76)	4.38
RRTLX	0.23	0.04	(0.11)	0.28	0.00	(0.30)	0.73	(0.39)	1.74
OSHDF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
70082LAB3	1.56	0.02	0.00	0.11	0.00	0.00	2.55	(4.54)	20.47
SITKF	2.99	0.28	0.01	(0.17)	3.63	(4.66)	6.25	(6.98)	23.19

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