Harbor Capital Correlations

Mutual Funds . USA . 
Fund . Harbor Capital Appreciation
HCAIX Fund  USD 115.18  0.93  0.81%   
The current 90-days correlation between Harbor Capital Appre and Harbor International Fund is 0.52 (i.e., Very weak diversification). The correlation of Harbor Capital 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 Capital Correlation With Market

Poor diversification

The correlation between Harbor Capital Appreciation and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Harbor Capital Appreciation 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 Capital Appreciation. 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 gross domestic product.

Moving together with Harbor Mutual Fund

  0.9HICSX Harbor Vertible SecuPairCorr
  0.8HIIGX Harbor InternationalPairCorr
  0.98HIMGX Harbor Mid CapPairCorr
  0.89HIMVX Harbor Mid CapPairCorr
  0.88HILVX Harbor Large CapPairCorr
  0.89HISVX Harbor Small CapPairCorr
  0.73HISWX Harbor Strategic GrowthPairCorr
  0.93HISGX Harbor Small CapPairCorr
  0.88HMCLX Harbor Mid CapPairCorr
  0.87HMCNX Harbor Mid CapPairCorr
  0.88HMCRX Harbor Mid CapPairCorr
  1.0HNACX Harbor Capital ApprePairCorr
  0.91HNCVX Harbor Vertible SecuPairCorr
  0.86ESCWX Embark Small CapPairCorr
  0.86ESCQX Embark Small CapPairCorr
  0.8HNGFX Harbor InternationalPairCorr
  0.84HNGSX Harbor Strategic GrowthPairCorr
  0.89HNMVX Harbor Mid CapPairCorr
  0.88HNLVX Harbor Large CapPairCorr
  0.98HNMGX Harbor Mid CapPairCorr
  0.93HNSGX Harbor Small CapPairCorr
  0.89HNVRX Harbor Small CapPairCorr
  1.0HRCAX Harbor Capital ApprePairCorr
  0.91HRCSX Harbor Vertible SecuPairCorr
  0.8HRIGX Harbor InternationalPairCorr
  0.98HRMGX Harbor Mid CapPairCorr
  0.89HRMVX Harbor Mid CapPairCorr
  0.88HRLVX Harbor Large CapPairCorr

Moving against Harbor Mutual Fund

  0.66HIISX Harbor InternationalPairCorr
  0.44HIINX Harbor InternationalPairCorr
  0.71HRBDX Harbor Bond FundPairCorr
  0.66HNISX Harbor InternationalPairCorr
  0.43HNINX Harbor InternationalPairCorr
  0.73HACBX Harbor Core BondPairCorr
  0.7HABDX Harbor Bond FundPairCorr
  0.66HRISX Harbor InternationalPairCorr
  0.66HAISX Harbor InternationalPairCorr
  0.44HRINX Harbor InternationalPairCorr
  0.43HAINX Harbor 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   
HIMGX
+ 0.98
HRCAX
AKREX
+ 0.89
FMIHX
HIMGX
+ 0.85
FMIHX
AKREX
+ 0.84
HIMGX
HRCAX
+ 0.81
FMIHX
AKREX
+ 0.8
HRCAX
  
High negative correlations   
HIMGX
- 0.47
HIINX
HRCAX
- 0.44
HIINX
AKREX
- 0.31
HIINX
FMIHX
- 0.16
HIINX

Risk-Adjusted Indicators

There is a big difference between Harbor Mutual Fund performing well and Harbor Capital 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 Capital'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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