Harbor Diversified Correlations

HAIDX Fund

USD 12.81 0.18 1.39%

The current 90-days correlation between Harbor Diversified and Federated Municipal Ultrashort is -0.14 (i.e., Good diversification). The correlation of Harbor Diversified 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.

Harbor Diversified Correlation With Market

Poor diversification

The correlation between Harbor Diversified Internation and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Harbor Diversified Internation and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Harbor Diversified International. 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 unemployment.

Moving together with Harbor Mutual Fund

1.0	HIIDX	Harbor Diversified	Pair Corr
0.99	HIINX	Harbor International	Pair Corr
0.98	HNISX	Harbor International	Pair Corr
1.0	HNIDX	Harbor Diversified	Pair Corr
0.89	HRBDX	Harbor Bond Fund	Pair Corr
1.0	HRIDX	Harbor Diversified	Pair Corr
0.99	HRINX	Harbor International	Pair Corr
0.98	HRISX	Harbor International	Pair Corr
0.99	HAINX	Harbor International	Pair Corr
0.98	HAISX	Harbor International	Pair Corr
0.98	HAORX	Harbor Overseas	Pair Corr
0.98	HAOSX	Harbor Overseas	Pair Corr
0.89	HCBRX	Harbor Core Bond	Pair Corr
0.96	VGTSX	Vanguard Total Inter	Pair Corr

Moving against Harbor Mutual Fund

0.69	HISVX	Harbor Small Cap	Pair Corr
0.69	HNVRX	Harbor Small Cap	Pair Corr
0.61	HISGX	Harbor Small Cap	Pair Corr
0.6	HNSGX	Harbor Small Cap	Pair Corr
0.56	HIMGX	Harbor Mid Cap	Pair Corr
0.49	HRCAX	Harbor Capital Appre	Pair Corr
0.47	HMCLX	Harbor Mid Cap	Pair Corr
0.34	HIMVX	Harbor Mid Cap	Pair Corr
0.33	HNMVX	Harbor Mid Cap	Pair Corr
0.69	HASCX	Harbor Small Cap	Pair Corr
0.67	MVSGX	Harbor Strategic Growth	Pair Corr
0.6	HRSGX	Harbor Small Cap	Pair Corr
0.6	HASGX	Harbor Small Cap	Pair Corr
0.59	HRMGX	Harbor Mid Cap	Pair Corr
0.59	HAMGX	Harbor Mid Cap	Pair Corr
0.49	HACAX	Harbor Capital Appre	Pair Corr
0.49	HCAIX	Harbor Capital Appre	Pair Corr
0.34	HRMVX	Harbor Mid Cap	Pair Corr
0.33	HAMVX	Harbor Mid Cap	Pair Corr
0.52	WRHIX	Ivy High Income	Pair Corr
0.46	WHIAX	Ivy High Income	Pair Corr

Related Correlations Analysis

	FMUUX	UGSFX	PCUXX	GFAXX	GABTX	INGXX	GANPX
FMUUX		0.9	0.0	0.0	0.55	0.0	0.97	FMUUX
UGSFX	0.9		0.0	0.0	0.5	0.0	0.88	UGSFX
PCUXX	0.0	0.0		0.0	0.0	0.0	0.0	PCUXX
GFAXX	0.0	0.0	0.0		0.0	0.0	0.0	GFAXX
GABTX	0.55	0.5	0.0	0.0		0.0	0.62	GABTX
INGXX	0.0	0.0	0.0	0.0	0.0		0.0	INGXX
GANPX	0.97	0.88	0.0	0.0	0.62	0.0		GANPX
	FMUUX	UGSFX	PCUXX	GFAXX	GABTX	INGXX	GANPX

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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

GANPX	+ 0.97	FMUUX
UGSFX	+ 0.9	FMUUX
GANPX	+ 0.88	UGSFX
GANPX	+ 0.62	GABTX
GABTX	+ 0.55	FMUUX
GABTX	+ 0.5	UGSFX

High negative correlations

GANPX	- 0.0	INGXX
INGXX	- 0.0	GABTX
GANPX	- 0.0	GFAXX
INGXX	- 0.0	GFAXX
GABTX	- 0.0	GFAXX
GANPX	- 0.0	PCUXX

Risk-Adjusted Indicators

There is a big difference between Harbor Mutual Fund performing well and Harbor Diversified 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 Harbor Diversified'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
FMUUX	0.03	0.00	0.00	(0.26)	0.00	0.00	0.10	0.00	0.40
UGSFX	0.25	0.04	0.28	4.37	0.16	(0.31)	0.60	(0.42)	1.55
PCUXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GFAXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GABTX	0.61	0.02	0.07	4.42	1.02	(0.58)	1.34	(1.63)	4.09
INGXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GANPX	0.06	0.00	0.46	(0.24)	0.00	(0.12)	0.10	(0.10)	0.48

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