Harding Loevner Correlations

Mutual Funds . USA . 
Fund . Harding Loevner Emerging
HLEMX Fund  USD 37.35  0.23  0.62%   
The current 90-days correlation between Harding Loevner Emerging and Ssga International Stock is 0.27 (i.e., Modest diversification). The correlation of Harding Loevner 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.

Harding Loevner Correlation With Market

Good diversification

The correlation between Harding Loevner Emerging and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Harding Loevner Emerging 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 Harding Loevner Emerging. 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 population.

Moving together with Harding Mutual Fund

  0.78HLEZX Harding Loevner InstPairCorr
  0.71HLGZX Harding Loevner GlobalPairCorr
  0.7HLFFX Harding Loevner FrontierPairCorr
  0.87HLIZX Harding Loevner IntePairCorr
  0.78HLMVX Harding Loevner GlobalPairCorr
  0.86HLMEX Harding Loevner InstPairCorr
  0.71HLMGX Harding Loevner GlobalPairCorr
  0.87HLMIX Harding Loevner IntePairCorr
  0.87HLMNX Harding Loevner IntePairCorr
  0.66VEIEX Vanguard Emerging MarketsPairCorr
  0.65VEMIX Vanguard Emerging MarketsPairCorr
  0.65VEMRX Vanguard Emerging MarketsPairCorr
  0.83FWWNX American Funds NewPairCorr
  0.77FNFWX American Funds NewPairCorr
  0.77NEWFX New World FundPairCorr
  0.77NWFFX New World FundPairCorr
  0.77NEWCX New World FundPairCorr
  0.81XDSMX Dreyfus StrategicPairCorr
  0.77XNXJX Nuveen New JerseyPairCorr
  0.71NXJ Nuveen New JerseyPairCorr
  0.84XNBHX Neuberger Berman IntPairCorr

Moving against Harding Mutual Fund

  0.31NFRIX Nuveen Symphony FloatingPairCorr

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   
UMEMX
+ 0.9
DREGX
UMEMX
+ 0.77
SSAIX
DREGX
+ 0.55
SSAIX
DREGX
+ 0.44
SWANX
UMEMX
+ 0.19
SWANX
SWANX
+ 0.12
SSAIX
  
High negative correlations   
EUROX
- 0.0
UMEMX
EUROX
- 0.0
DREGX
EUROX
- 0.0
SWANX
EUROX
- 0.0
SSAIX

Risk-Adjusted Indicators

There is a big difference between Harding Mutual Fund performing well and Harding Loevner 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 Harding Loevner'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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