Lazard Small Correlations

Mutual Funds . USA . 
Fund . Lazard Small Mid Cap
LZCOX Fund  USD 12.35  0.03  0.24%   
The current 90-days correlation between Lazard Small Mid and Lazard Small Mid Cap is 1.0 (i.e., No risk reduction). The correlation of Lazard Small 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 Small Correlation With Market

Very poor diversification

The correlation between Lazard Small Mid Cap and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Lazard Small Mid Cap 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 Small Mid Cap. 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 persons.

Moving together with Lazard Mutual Fund

  0.65LZHYX Lazard Corporate IncomePairCorr
  0.62LZHOX Lazard Corporate IncomePairCorr
  0.64GESOX Lazard Global EquityPairCorr
  1.0LZSCX Lazard Small MidPairCorr
  0.94LZUOX Lazard Strategic EquityPairCorr
  0.86LZUSX Lazard Strategic EquityPairCorr
  0.9SUSTX Lazard Sustainable EquityPairCorr
  0.82SUSLX Lazard Sustainable EquityPairCorr
  0.92RUSRX Lazard Systematic SmallPairCorr

Moving against Lazard Mutual Fund

  0.55LZISX Lazard InternationalPairCorr
  0.55LZSMX Lazard InternationalPairCorr
  0.47LZESX Lazard InternationalPairCorr
  0.45LZSIX Lazard InternationalPairCorr
  0.42LZFOX Lazard Equity FranchisePairCorr
  0.42LZFIX Lazard Equity FranchisePairCorr
  0.4LZIEX Lazard InternationalPairCorr
  0.4LZIOX Lazard InternationalPairCorr
  0.4LISOX Lazard InternationalPairCorr
  0.39UMNOX Lazard Short DurationPairCorr
  0.37LISIX Lazard InternationalPairCorr
  0.36UMNIX Lazard Short DurationPairCorr
  0.41RLIEX Lazard InternationalPairCorr
  0.39RLITX Lazard InternationalPairCorr

Related Correlations Analysis

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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   
LSCRX
+ 0.95
LZSCX
LZSMX
+ 0.94
LZIOX
NBPTX
+ 0.86
LZSCX
NBPTX
+ 0.79
LSCRX
  
High negative correlations   
LSCRX
- 0.67
LZSMX
LSCRX
- 0.58
LZIOX
LZSMX
- 0.55
LZSCX
NBPTX
- 0.48
LZSMX
LZIOX
- 0.41
LZSCX
NBPTX
- 0.29
LZIOX

Risk-Adjusted Indicators

There is a big difference between Lazard Mutual Fund performing well and Lazard Small 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 Small'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.

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