Harding Loevner Correlations

HLMNX Fund

USD 26.34 0.23 0.87%

The current 90-days correlation between Harding Loevner Inte and Nicholas Ii Inc is -0.17 (i.e., Good 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 -0.15 (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 board of governors.

Moving together with Harding Mutual Fund

0.78	HLEMX	Harding Loevner Emerging	Pair Corr
0.72	HLEZX	Harding Loevner Inst	Pair Corr
0.61	HLFFX	Harding Loevner Frontier	Pair Corr
0.94	HLIZX	Harding Loevner Inte	Pair Corr
0.93	HLIDX	Harding Loevner Inte	Pair Corr
0.9	HLMCX	Harding Loevner Chinese Potential Growth	Pair Corr
0.78	HLMEX	Harding Loevner Inst	Pair Corr
0.94	HLMIX	Harding Loevner Inte	Pair Corr
0.85	HLMRX	Harding Loevner Inte	Pair Corr
0.78	HLMSX	Harding Loevner Inte	Pair Corr
0.85	HLRZX	Harding Loevner Inte	Pair Corr
0.97	VGTSX	Vanguard Total Inter	Pair Corr
0.97	VTIAX	Vanguard Total Inter	Pair Corr
0.97	VTSNX	Vanguard Total Inter	Pair Corr
0.92	VTPSX	Vanguard Total Inter	Pair Corr
0.92	VTISX	Vanguard Total Inter	Pair Corr
0.96	VTMGX	Vanguard Developed	Pair Corr
0.92	VDVIX	Vanguard Developed	Pair Corr
0.92	VTMNX	Vanguard Developed	Pair Corr
0.92	VDIPX	Vanguard Developed	Pair Corr
0.96	FSPSX	Fidelity International	Pair Corr
0.81	INDFX	Invesco International	Pair Corr
0.85	PRICX	Prudential Government	Pair Corr

Moving against Harding Mutual Fund

0.42	VSMPX	Vanguard Total Stock	Pair Corr
0.42	VSTSX	Vanguard Total Stock	Pair Corr
0.42	VITSX	Vanguard Total Stock	Pair Corr
0.33	VTSAX	Vanguard Total Stock	Pair Corr
0.33	VTSMX	Vanguard Total Stock	Pair Corr

Related Correlations Analysis

	NNTWX	HLEMX	PTSGX	HLMGX	HLMIX
NNTWX		-0.06	0.84	0.72	-0.43	NNTWX
HLEMX	-0.06		0.13	0.47	0.85	HLEMX
PTSGX	0.84	0.13		0.88	-0.23	PTSGX
HLMGX	0.72	0.47	0.88		0.18	HLMGX
HLMIX	-0.43	0.85	-0.23	0.18		HLMIX
	NNTWX	HLEMX	PTSGX	HLMGX	HLMIX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

HLMGX	+ 0.88	PTSGX
HLMIX	+ 0.85	HLEMX
PTSGX	+ 0.84	NNTWX
HLMGX	+ 0.72	NNTWX
HLMGX	+ 0.47	HLEMX
HLMIX	+ 0.18	HLMGX

High negative correlations

HLMIX	- 0.43	NNTWX
HLMIX	- 0.23	PTSGX
HLEMX	- 0.06	NNTWX

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
NNTWX	0.85	(0.10)	0.00	(0.11)	0.00	0.00	1.65	(2.03)	6.55
HLEMX	0.62	0.05	0.08	0.09	0.74	(0.71)	1.42	(1.41)	4.49
PTSGX	1.44	(0.06)	0.00	(0.07)	0.00	0.00	2.46	(2.95)	8.61
HLMGX	0.67	0.02	0.03	0.00	0.89	(0.72)	1.17	(1.52)	4.29
HLMIX	0.64	0.13	0.17	0.20	0.68	(0.70)	1.61	(1.46)	4.31

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC