Harding Loevner Correlations

HLFMX Fund

USD 8.14 0.01 0.12%

The current 90-days correlation between Harding Loevner Frontier and Inflation Protected Bond Fund is 0.01 (i.e., Significant 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 Frontier and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Harding Loevner Frontier 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 Frontier. 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

0.62	FWWNX	American Funds New	Pair Corr
0.62	FNFWX	American Funds New	Pair Corr
0.63	NEWFX	New World Fund	Pair Corr
0.62	NWFFX	New World Fund	Pair Corr
0.64	NEWCX	New World Fund	Pair Corr
0.61	ODVYX	Oppenheimer Developing	Pair Corr
0.74	BTMPX	Ishares Msci Eafe	Pair Corr
0.75	BTMKX	Blackrock International	Pair Corr
0.74	MDIIX	Blackrock Intern Index	Pair Corr
0.75	PFE	Pfizer Inc Aggressive Push	Pair Corr

Moving against Harding Mutual Fund

0.63	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.63	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.62	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.62	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.41	FMFFX	Fs Managed Futures	Pair Corr
0.35	FSMMX	Fs Multi Strategy	Pair Corr
0.73	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.62	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.4	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.38	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.36	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr

Related Correlations Analysis

	IPBAX	LBIIX	MDMTX	USCBX	BBINX	PBXIX
IPBAX		-0.12	-0.15	0.19	0.09	0.79	IPBAX
LBIIX	-0.12		0.8	0.62	0.82	-0.55	LBIIX
MDMTX	-0.15	0.8		0.86	0.89	-0.4	MDMTX
USCBX	0.19	0.62	0.86		0.92	0.01	USCBX
BBINX	0.09	0.82	0.89	0.92		-0.24	BBINX
PBXIX	0.79	-0.55	-0.4	0.01	-0.24		PBXIX
	IPBAX	LBIIX	MDMTX	USCBX	BBINX	PBXIX

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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

BBINX	+ 0.92	USCBX
BBINX	+ 0.89	MDMTX
USCBX	+ 0.86	MDMTX
BBINX	+ 0.82	LBIIX
MDMTX	+ 0.8	LBIIX
PBXIX	+ 0.79	IPBAX

High negative correlations

PBXIX	- 0.55	LBIIX
PBXIX	- 0.4	MDMTX
PBXIX	- 0.24	BBINX
MDMTX	- 0.15	IPBAX
LBIIX	- 0.12	IPBAX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
IPBAX	0.33	(0.02)	(0.18)	0.07	0.33	(0.39)	0.59	(0.58)	1.94
LBIIX	0.23	(0.01)	0.00	0.34	0.00	0.00	0.37	(0.61)	1.35
MDMTX	0.17	0.01	(0.28)	0.01	0.24	(0.23)	0.38	(0.56)	1.33
USCBX	0.16	0.02	(0.24)	(0.09)	0.22	(0.23)	0.39	(0.29)	1.74
BBINX	0.12	0.01	(0.41)	0.01	0.15	(0.19)	0.29	(0.29)	1.07
PBXIX	0.31	0.04	(0.07)	0.21	0.00	(0.41)	0.87	(0.55)	1.94

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