Looking to diversify beyond LZIEX? The mutual funds below have historically moved differently from LZIEX, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for LZIEX
1 mutual funds have low correlation with LZIEX (below 0.3), 0 of which are negatively correlated. The least correlated is Lazard Enhanced Opportunities Portfolio Open Shares (LEOOX) (Convertible Bonds) with a 1Y correlation of 0.17, roughly unchanged from 0.15 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Lazard Enhanced Opportunities Portfolio Open Share... | 0.17 | 0.04 | 0.15 | 75 | Convertible Bonds | LZIEX vs LEOOX | |
| Weitz Short Duration Income Fund | 0.38 | 0.20 | 0.21 | 96 | Short-Term Bond | LZIEX vs WEFIX | |
| Blackstone Alternative Multi-Strategy Fund | 0.43 | 0.41 | 0.46 | 99 | Multistrategy | LZIEX vs BXMIX | |
| Lazard Real Assets Portfolio | 0.50 | 0.60 | 0.65 | 90 | Global Allocation | LZIEX vs RALIX | |
| Federated Hermes International Strategic Value Div... | 0.53 | 0.58 | 0.70 | 88 | Foreign Large Cap Equities | LZIEX vs IVFIX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for LZIEX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Berkshire Hathaway Inc. (BRK-B) (Financial Services) with a 1Y correlation of 0.11, down from 0.45 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Berkshire Hathaway Inc. | 0.11 | 0.30 | 0.45 | 61 | Financial Services | |
| NVIDIA Corporation | 0.36 | 0.37 | 0.48 | 56 | Technology |
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