Lazard Real Correlations

RALYX Fund

USD 11.03 0.07 0.63%

The current 90-days correlation between Lazard Real Assets and Pgim Conservative Retirement is 0.79 (i.e., Poor diversification). The correlation of Lazard Real 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 Real Correlation With Market

Average diversification

The correlation between Lazard Real Assets and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lazard Real Assets 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 Real Assets. 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 population.

Moving together with Lazard Mutual Fund

0.84	LZEMX	Lazard Emerging Markets	Pair Corr
0.8	LZHYX	Lazard Corporate Income	Pair Corr
0.64	LZIEX	Lazard International	Pair Corr
0.63	LZIOX	Lazard International	Pair Corr
0.78	LZHOX	Lazard Corporate Income	Pair Corr
0.83	LZOEX	Lazard Emerging Markets	Pair Corr
0.83	LZUOX	Lazard Strategic Equity	Pair Corr
0.83	LZUSX	Lazard Strategic Equity	Pair Corr
0.79	UMNIX	Lazard Short Duration	Pair Corr
0.95	RALIX	Lazard Real Assets	Pair Corr
0.95	RALOX	Lazard Real Assets	Pair Corr
0.79	ECEOX	Lazard Emerging Markets	Pair Corr
0.88	GLFOX	Lazard Global Listed	Pair Corr
0.88	GLIFX	Lazard Global Listed	Pair Corr
0.62	CONIX	Columbia Global Tech	Pair Corr
0.67	LCAIX	Lazard Capital Allocator	Pair Corr
0.67	LCAOX	Lazard Capital Allocator	Pair Corr
0.61	LDMIX	Lazard Developing Markets	Pair Corr
0.61	LDMOX	Lazard Developing Markets	Pair Corr
0.84	RLEMX	Lazard Emerging Markets	Pair Corr
0.79	RLEOX	Lazard Emerging Markets	Pair Corr
0.64	RLIEX	Lazard International	Pair Corr

Moving against Lazard Mutual Fund

0.57	LZFOX	Lazard Equity Franchise	Pair Corr
0.57	LZFIX	Lazard Equity Franchise	Pair Corr

Related Correlations Analysis

	PGFCX	CAARX	TLSHX	SRDAX	MNDWX	FARIX	BICPX	CDEYX
PGFCX		0.98	0.97	0.51	0.87	0.87	0.98	0.82	PGFCX
CAARX	0.98		0.98	0.49	0.83	0.85	0.98	0.86	CAARX
TLSHX	0.97	0.98		0.51	0.86	0.85	0.99	0.84	TLSHX
SRDAX	0.51	0.49	0.51		0.67	0.72	0.55	0.66	SRDAX
MNDWX	0.87	0.83	0.86	0.67		0.83	0.91	0.68	MNDWX
FARIX	0.87	0.85	0.85	0.72	0.83		0.87	0.86	FARIX
BICPX	0.98	0.98	0.99	0.55	0.91	0.87		0.82	BICPX
CDEYX	0.82	0.86	0.84	0.66	0.68	0.86	0.82		CDEYX
	PGFCX	CAARX	TLSHX	SRDAX	MNDWX	FARIX	BICPX	CDEYX

Risk-Adjusted Indicators

There is a big difference between Lazard Mutual Fund performing well and Lazard Real 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 Real'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
PGFCX	0.22	0.02	(0.10)	0.29	0.19	(0.26)	0.46	(0.54)	1.19
CAARX	0.23	0.02	(0.09)	0.26	0.21	(0.25)	0.53	(0.43)	1.21
TLSHX	0.26	0.03	(0.06)	0.35	0.27	(0.27)	0.51	(0.50)	1.46
SRDAX	0.14	0.03	(0.10)	2.30	0.00	(0.18)	0.28	(0.38)	0.94
MNDWX	0.08	0.03	(0.19)	(13.25)	0.00	(0.13)	0.19	(0.19)	0.58
FARIX	0.36	0.05	0.01	0.22	0.34	(0.43)	1.06	(0.78)	1.94
BICPX	0.19	0.03	(0.08)	0.38	0.07	(0.26)	0.42	(0.41)	1.16
CDEYX	0.51	0.07	0.03	0.59	0.59	(0.55)	1.08	(0.96)	3.28

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