Harbor Strategic Correlations

HISWX Fund

USD 17.20 0.00 0.00%

The current 90-days correlation between Harbor Strategic Growth and Financials Ultrasector Profund is 0.03 (i.e., Significant diversification). The correlation of Harbor Strategic 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 Strategic Correlation With Market

Good diversification

The correlation between Harbor Strategic Growth and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Harbor Strategic Growth 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. 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 housing.

Moving together with Harbor Mutual Fund

0.73	HIMGX	Harbor Mid Cap	Pair Corr
1.0	HNGSX	Harbor Strategic Growth	Pair Corr
0.74	HNMGX	Harbor Mid Cap	Pair Corr

Moving against Harbor Mutual Fund

0.81	ECSQX	Embark Commodity Strategy	Pair Corr
0.53	HNINX	Harbor International	Pair Corr
0.51	HRIDX	Harbor Diversified	Pair Corr
0.42	HABDX	Harbor Bond Fund	Pair Corr
0.41	HIISX	Harbor International	Pair Corr
0.41	HRISX	Harbor International	Pair Corr
0.63	HAORX	Harbor Overseas	Pair Corr
0.6	HAONX	Harbor Overseas	Pair Corr
0.6	HAOSX	Harbor Overseas	Pair Corr
0.51	HAIDX	Harbor Diversified	Pair Corr
0.42	HBFRX	Harbor Bond Fund	Pair Corr
0.41	HCBRX	Harbor Core Bond	Pair Corr
0.33	HAVLX	Harbor Large Cap	Pair Corr

Related Correlations Analysis

	FNPIX	JHMXX	FIDAX	FMFXX	VMRXX	JRSXX
FNPIX		0.0	0.94	0.0	0.26	0.0	FNPIX
JHMXX	0.0		0.0	0.0	0.0	0.0	JHMXX
FIDAX	0.94	0.0		0.0	-0.02	0.0	FIDAX
FMFXX	0.0	0.0	0.0		0.0	0.0	FMFXX
VMRXX	0.26	0.0	-0.02	0.0		0.0	VMRXX
JRSXX	0.0	0.0	0.0	0.0	0.0		JRSXX
	FNPIX	JHMXX	FIDAX	FMFXX	VMRXX	JRSXX

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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

FIDAX	+ 0.94	FNPIX
VMRXX	+ 0.26	FNPIX
JHMXX	+ 0.0	FNPIX
FMFXX	+ 0.0	FNPIX
JRSXX	+ 0.0	FNPIX
FIDAX	+ 0.0	JHMXX

High negative correlations

VMRXX	- 0.02	FIDAX
JRSXX	- 0.0	VMRXX
JRSXX	- 0.0	FMFXX
VMRXX	- 0.0	FMFXX
JRSXX	- 0.0	FIDAX
FMFXX	- 0.0	FIDAX

Risk-Adjusted Indicators

There is a big difference between Harbor Mutual Fund performing well and Harbor Strategic 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 Strategic'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
FNPIX	1.24	0.02	0.01	0.15	1.73	(1.29)	3.15	(3.48)	9.08
JHMXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FIDAX	0.87	(0.01)	(0.01)	(0.08)	1.37	(0.83)	2.18	(2.86)	6.35
FMFXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VMRXX	0.03	0.01	0.00	0.17	0.00	0.00	0.00	0.00	1.01
JRSXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Harbor Strategic Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Harbor Strategic mutual fund to make a market-neutral strategy. Peer analysis of Harbor Strategic could also be used in its relative valuation, which is a method of valuing Harbor Strategic by comparing valuation metrics with similar companies.

Financials Ultrasector Profund John Hancock Money Financial Industries Fund Franklin Government Money Vanguard Money Market Edward Jones Money American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp Home Depot

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