Harbor Large Correlations

HILVX Fund

USD 21.87 0.06 0.27%

The current 90-days correlation between Harbor Large Cap and Harbor Mid Cap is -0.08 (i.e., Good diversification). The correlation of Harbor Large 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 Large Correlation With Market

Very poor diversification

The correlation between Harbor Large Cap and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Harbor Large Cap 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 Large Cap. 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 real.

Moving together with Harbor Mutual Fund

0.74	HICSX	Harbor Vertible Secu	Pair Corr
0.83	HIMVX	Harbor Mid Cap	Pair Corr
0.61	HMCLX	Harbor Mid Cap	Pair Corr
0.71	HMCNX	Harbor Mid Cap	Pair Corr
0.67	HNCVX	Harbor Vertible Secu	Pair Corr
0.84	HNMVX	Harbor Mid Cap	Pair Corr
1.0	HNLVX	Harbor Large Cap	Pair Corr
0.61	HRCAX	Harbor Capital Appre	Pair Corr
0.75	HRCSX	Harbor Vertible Secu	Pair Corr
0.83	HRMVX	Harbor Mid Cap	Pair Corr
0.89	HRLVX	Harbor Large Cap	Pair Corr
0.75	HACSX	Harbor Vertible Secu	Pair Corr

Moving against Harbor Mutual Fund

0.48	HNMGX	Harbor Mid Cap	Pair Corr
0.41	HIMGX	Harbor Mid Cap	Pair Corr
0.41	HRMGX	Harbor Mid Cap	Pair Corr
0.41	HAMGX	Harbor Mid Cap	Pair Corr

Related Correlations Analysis

	HIMVX	HCAIX	HIIGX	LMOFX	HAVLX
HIMVX		0.87	0.0	0.93	0.82	HIMVX
HCAIX	0.87		0.0	0.95	0.59	HCAIX
HIIGX	0.0	0.0		0.0	0.0	HIIGX
LMOFX	0.93	0.95	0.0		0.69	LMOFX
HAVLX	0.82	0.59	0.0	0.69		HAVLX
	HIMVX	HCAIX	HIIGX	LMOFX	HAVLX

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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

LMOFX	+ 0.95	HCAIX
LMOFX	+ 0.93	HIMVX
HCAIX	+ 0.87	HIMVX
HAVLX	+ 0.82	HIMVX
HAVLX	+ 0.69	LMOFX
HAVLX	+ 0.59	HCAIX

High negative correlations

HAVLX	- 0.0	HIIGX
LMOFX	- 0.0	HIIGX
HIIGX	- 0.0	HCAIX
HIIGX	- 0.0	HIMVX

Risk-Adjusted Indicators

There is a big difference between Harbor Mutual Fund performing well and Harbor Large 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 Large'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
HIMVX	0.74	(0.05)	0.00	(1.96)	0.00	0.00	1.28	(1.50)	3.43
HCAIX	1.14	(0.10)	0.00	(0.17)	0.00	0.00	1.79	(2.61)	6.74
HIIGX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LMOFX	1.12	0.00	0.00	(0.06)	0.00	0.00	1.98	(2.73)	6.66
HAVLX	0.67	0.05	0.08	0.00	0.82	(0.73)	1.23	(1.25)	3.34

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