https://learn.microsoft.com/en-us/azure/network-watcher/network-watcher-monitoring-overview#monitoring The connection monitor capability monitors communication at a regular interval and informs you of reachability, latency, and network topology changes between the VM and the endpoint.
Connection monitor also provides the minimum, average, and maximum latency observed over time. After learning the latency for a connection, you may find that you can decrease the latency by moving your Azure resources to different Azure regions.