Harbor International Correlations

HIINX Fund

USD 47.17 0.63 1.35%

The current 90-days correlation between Harbor International and Maryland Tax Free Bond is 0.03 (i.e., Significant diversification). The correlation of Harbor International 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 International Correlation With Market

Very weak diversification

The correlation between Harbor International Fund and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Harbor International Fund 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 International Fund. 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 board of governors.

Moving together with Harbor Mutual Fund

0.96	HIIDX	Harbor Diversified	Pair Corr
0.91	VGTSX	Vanguard Total Inter	Pair Corr
0.91	VTIAX	Vanguard Total Inter	Pair Corr
0.91	VTSNX	Vanguard Total Inter	Pair Corr
0.91	VTPSX	Vanguard Total Inter	Pair Corr
0.91	VTISX	Vanguard Total Inter	Pair Corr
0.99	VTMGX	Vanguard Developed	Pair Corr
0.99	VDVIX	Vanguard Developed	Pair Corr
0.99	VTMNX	Vanguard Developed	Pair Corr
0.99	VDIPX	Vanguard Developed	Pair Corr
0.98	FSPSX	Fidelity International	Pair Corr
0.78	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.84	KO	Coca Cola Aggressive Push	Pair Corr
0.73	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr
0.61	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr

Moving against Harbor Mutual Fund

0.72	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.72	KNPCX	Kinetics Paradigm Steady Growth	Pair Corr
0.72	KNPYX	Kinetics Paradigm Steady Growth	Pair Corr
0.71	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.71	LSHEX	Kinetics Spin Off Steady Growth	Pair Corr
0.71	LSHCX	Horizon Spin Off Steady Growth	Pair Corr
0.71	LSHAX	Horizon Spin Off Steady Growth	Pair Corr
0.66	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.65	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.65	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.63	HNCVX	Harbor Vertible Secu	Pair Corr
0.76	BAC	Bank of America Aggressive Push	Pair Corr
0.63	DIS	Walt Disney Sell-off Trend	Pair Corr
0.61	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.59	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.59	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.48	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.45	AMGIX	Income Growth	Pair Corr
0.45	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr

Related Correlations Analysis

	TFBIX	SWSFX	TPYYX	ARTFX	LBIIX	IPBAX	MBSAX	CCD
TFBIX		-0.12	0.45	0.16	0.65	0.23	0.75	0.22	TFBIX
SWSFX	-0.12		0.08	0.83	-0.52	0.53	-0.12	0.31	SWSFX
TPYYX	0.45	0.08		0.25	0.38	0.57	0.57	0.58	TPYYX
ARTFX	0.16	0.83	0.25		-0.35	0.75	0.15	0.6	ARTFX
LBIIX	0.65	-0.52	0.38	-0.35		-0.12	0.75	0.06	LBIIX
IPBAX	0.23	0.53	0.57	0.75	-0.12		0.41	0.68	IPBAX
MBSAX	0.75	-0.12	0.57	0.15	0.75	0.41		0.29	MBSAX
CCD	0.22	0.31	0.58	0.6	0.06	0.68	0.29		CCD
	TFBIX	SWSFX	TPYYX	ARTFX	LBIIX	IPBAX	MBSAX	CCD

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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

ARTFX	+ 0.83	SWSFX
MBSAX	+ 0.75	TFBIX
IPBAX	+ 0.75	ARTFX
MBSAX	+ 0.75	LBIIX
CCD	+ 0.68	IPBAX
LBIIX	+ 0.65	TFBIX

High negative correlations

LBIIX	- 0.52	SWSFX
LBIIX	- 0.35	ARTFX
IPBAX	- 0.12	LBIIX
MBSAX	- 0.12	SWSFX
SWSFX	- 0.12	TFBIX

Risk-Adjusted Indicators

There is a big difference between Harbor Mutual Fund performing well and Harbor International 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 International'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
TFBIX	0.16	0.03	(0.29)	(0.14)	0.19	(0.23)	0.40	(0.39)	1.58
SWSFX	0.04	0.00	(1.18)	(0.08)	0.00	(0.17)	0.10	(0.10)	0.49
TPYYX	0.70	(0.08)	(0.11)	0.02	0.95	(0.74)	1.40	(1.71)	5.39
ARTFX	0.12	0.03	(0.64)	0.58	0.00	(0.21)	0.33	(0.22)	1.01
LBIIX	0.23	0.00	(0.38)	0.11	0.28	(0.27)	0.49	(0.61)	1.35
IPBAX	0.33	(0.01)	(0.18)	0.10	0.31	(0.39)	0.59	(0.58)	1.94
MBSAX	0.21	(0.01)	(0.37)	0.09	0.22	(0.23)	0.37	(0.44)	1.25
CCD	0.75	(0.01)	(0.08)	0.11	0.90	(0.81)	1.88	(1.68)	4.88

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