Harding Loevner Correlations

HLIZX Fund

USD 26.48 0.16 0.61%

The current 90-days correlation between Harding Loevner Inte and Transamerica Funds is 0.09 (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 International and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Harding Loevner International 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 International. 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 nation.

Moving together with Harding Mutual Fund

0.87	HLEMX	Harding Loevner Emerging	Pair Corr
0.88	HLEZX	Harding Loevner Inst	Pair Corr
0.8	HLGZX	Harding Loevner Global	Pair Corr
0.81	HLFFX	Harding Loevner Frontier	Pair Corr
0.64	HLFZX	Highland Floating Rate	Pair Corr
0.68	HLIDX	Harding Loevner Inte	Pair Corr
0.79	HLMVX	Harding Loevner Global	Pair Corr
0.88	HLMEX	Harding Loevner Inst	Pair Corr
0.8	HLMGX	Harding Loevner Global	Pair Corr
1.0	HLMIX	Harding Loevner Inte	Pair Corr
0.95	HLMNX	Harding Loevner Inte	Pair Corr
0.65	HLMOX	Harding Loevner Frontier	Pair Corr
0.66	HLMRX	Harding Loevner Inte	Pair Corr
0.65	HLMSX	Harding Loevner Inte	Pair Corr
0.73	HLRZX	Harding Loevner Inte	Pair Corr
0.76	HLXCX	Harding Loevner Funds	Pair Corr
0.74	VGTSX	Vanguard Total Inter	Pair Corr
0.74	VTIAX	Vanguard Total Inter	Pair Corr
0.74	VTSNX	Vanguard Total Inter	Pair Corr
0.65	VTPSX	Vanguard Total Inter	Pair Corr
0.74	VTISX	Vanguard Total Inter	Pair Corr
0.67	VTMNX	Vanguard Developed	Pair Corr
0.63	FSPSX	Fidelity International	Pair Corr
0.66	FTYPX	Fidelity Freedom Index	Pair Corr
0.86	FFBTX	Fidelity Freedom Blend	Pair Corr
0.84	GABFX	Gmo Asset Allocation Steady Growth	Pair Corr
0.67	GCAVX	Gmo Small Cap	Pair Corr
0.83	GQLOX	Gmo Quality Fund	Pair Corr
0.72	NCMFX	Virtus Multi Sector	Pair Corr

Related Correlations Analysis

	TISDX	DLENX	REVAX	MNCRX	GMADX	SMNIX	PIEQX
TISDX		0.81	0.91	0.95	0.84	-0.19	0.9	TISDX
DLENX	0.81		0.81	0.81	0.81	-0.4	0.95	DLENX
REVAX	0.91	0.81		0.81	0.77	-0.24	0.85	REVAX
MNCRX	0.95	0.81	0.81		0.83	-0.19	0.89	MNCRX
GMADX	0.84	0.81	0.77	0.83		-0.32	0.91	GMADX
SMNIX	-0.19	-0.4	-0.24	-0.19	-0.32		-0.33	SMNIX
PIEQX	0.9	0.95	0.85	0.89	0.91	-0.33		PIEQX
	TISDX	DLENX	REVAX	MNCRX	GMADX	SMNIX	PIEQX

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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

MNCRX	+ 0.95	TISDX
PIEQX	+ 0.95	DLENX
REVAX	+ 0.91	TISDX
PIEQX	+ 0.91	GMADX
PIEQX	+ 0.9	TISDX
PIEQX	+ 0.89	MNCRX

High negative correlations

SMNIX	- 0.4	DLENX
PIEQX	- 0.33	SMNIX
SMNIX	- 0.32	GMADX
SMNIX	- 0.24	REVAX
SMNIX	- 0.19	MNCRX
SMNIX	- 0.19	TISDX

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
TISDX	0.58	0.06	0.07	0.12	0.74	(0.61)	1.24	(1.03)	3.33
DLENX	0.11	0.02	0.18	(4.62)	0.00	(0.16)	0.22	(0.11)	0.67
REVAX	0.64	0.05	0.06	0.14	0.75	(0.74)	1.28	(1.38)	3.31
MNCRX	0.21	0.02	0.09	0.16	0.21	(0.27)	0.46	(0.38)	1.84
GMADX	0.61	0.06	0.05	0.13	1.21	(0.61)	1.00	(1.03)	11.02
SMNIX	0.38	0.03	0.09	0.37	0.30	(0.56)	0.96	(0.81)	1.98
PIEQX	0.55	0.11	0.14	0.24	0.64	(0.63)	1.16	(0.94)	3.81

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