Lazard Global Correlations

LGI Fund

USD 16.76 0.12 0.72%

The current 90-days correlation between Lazard Global Total and Allianzgi Diversified Income is 0.39 (i.e., Weak 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.

Lazard Global Correlation With Market

Average diversification

The correlation between Lazard Global Total and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lazard Global Total 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 Global Total. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Lazard Fund

0.99	FAFGX	American Funds	Pair Corr
0.99	FFAFX	American Funds	Pair Corr
0.8	FWMMX	American Funds Washington	Pair Corr
0.8	FWWMX	American Funds Washington	Pair Corr
0.76	FKIQX	Franklin Income	Pair Corr
0.99	FFMMX	American Funds American	Pair Corr
0.99	FFFMX	American Funds American	Pair Corr
0.78	FMCMX	American Funds Amcap	Pair Corr
0.78	FMMMX	American Funds Amcap	Pair Corr
0.75	HLPPX	Rems Real Estate	Pair Corr
0.93	EFECX	Ashmore Emerging Markets	Pair Corr
0.73	IIFSX	Vy Franklin Income Potential Growth	Pair Corr
0.68	PFRMX	Pimco Inflation Response	Pair Corr
0.79	MFADX	Marketfield Fund Mar	Pair Corr
0.97	IPYSX	Voya High Yield	Pair Corr
0.83	TVRAX	Guggenheim Directional	Pair Corr
0.71	FIEZX	Fidelity Total Inter	Pair Corr
0.79	CNSDX	Invesco Vertible Sec	Pair Corr
0.79	CICEX	Investment Of America	Pair Corr
0.81	GDIRX	Goldman Sachs Short	Pair Corr
0.84	VFINX	Vanguard 500 Index	Pair Corr
0.98	AZNAX	Allianzgi Income Growth	Pair Corr
0.65	GMCFX	Gmo International Equity	Pair Corr
0.67	XXBGX	Blackstonegso Long	Pair Corr
0.84	OBEGX	Oberweis Emerging Growth	Pair Corr
0.75	GMSMX	Guidemark Smallmid Cap	Pair Corr
0.87	FMDRX	Franklin Mutual Global	Pair Corr
0.77	OWCIX	Old Westbury Credit	Pair Corr
0.82	EPEIX	Ep Emerging Markets	Pair Corr
0.98	TSMOX	Tiaa-cref Small/mid-cap	Pair Corr
0.84	JSIPX	Jpmorgan Smartretirement	Pair Corr
0.85	URINX	Target Retirement Income	Pair Corr
0.81	FSRFX	Transportation Portfolio Potential Growth	Pair Corr
0.96	RPELX	T Rowe Price	Pair Corr
0.75	RYIFX	Guggenheim Managed	Pair Corr

Related Correlations Analysis

	ACV	EHI	JMM	FGB	ETO	SCD	JCE	GLQ
ACV		0.5	0.8	-0.03	0.97	0.58	0.97	0.85	ACV
EHI	0.5		0.64	0.32	0.56	-0.07	0.55	0.69	EHI
JMM	0.8	0.64		0.03	0.81	0.39	0.79	0.92	JMM
FGB	-0.03	0.32	0.03		0.07	-0.26	0.02	0.01	FGB
ETO	0.97	0.56	0.81	0.07		0.47	0.98	0.84	ETO
SCD	0.58	-0.07	0.39	-0.26	0.47		0.54	0.47	SCD
JCE	0.97	0.55	0.79	0.02	0.98	0.54		0.84	JCE
GLQ	0.85	0.69	0.92	0.01	0.84	0.47	0.84		GLQ
	ACV	EHI	JMM	FGB	ETO	SCD	JCE	GLQ

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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

JCE	+ 0.98	ETO
ETO	+ 0.97	ACV
JCE	+ 0.97	ACV
GLQ	+ 0.92	JMM
GLQ	+ 0.85	ACV
GLQ	+ 0.84	ETO

High negative correlations

SCD	- 0.26	FGB
SCD	- 0.07	EHI
FGB	- 0.03	ACV

Risk-Adjusted Indicators

There is a big difference between Lazard Fund performing well and Lazard Global 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
ACV	0.55	0.28	0.34	0.85	0.00	(0.68)	1.66	(0.79)	2.98
EHI	0.38	0.04	(0.14)	(18.08)	0.49	(0.43)	0.79	(0.78)	3.28
JMM	0.77	0.12	0.00	1.47	0.65	(1.04)	2.03	(1.26)	4.45
FGB	0.82	0.22	0.07	(4.46)	0.66	(1.15)	2.65	(1.28)	5.20
ETO	0.67	0.26	0.27	0.61	0.00	(0.81)	1.97	(1.02)	4.21
SCD	0.95	0.09	(0.01)	0.99	1.41	(0.92)	2.32	(1.99)	8.22
JCE	0.70	0.30	0.22	(3.00)	0.13	(0.89)	2.01	(1.09)	4.68
GLQ	0.66	0.32	0.31	3.21	0.00	(0.88)	1.70	(0.88)	4.11

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