Harding Loevner Correlations

HLMRX Fund

USD 17.36 0.21 1.22%

The current 90-days correlation between Harding Loevner Inte and Dreyfus Technology Growth is 0.44 (i.e., Very weak 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

Weak diversification

The correlation between Harding Loevner International and DJI is 0.31 (i.e., Weak 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 metropolitan statistical area.

Moving together with Harding Mutual Fund

0.95	HLIZX	Harding Loevner Inte	Pair Corr
0.96	HLMIX	Harding Loevner Inte	Pair Corr
0.96	HLMNX	Harding Loevner Inte	Pair Corr
1.0	HLMSX	Harding Loevner Inte	Pair Corr
0.8	OSMYX	Oppenheimer Intl Small	Pair Corr
0.93	OSCIX	Oppenheimer Intl Small	Pair Corr
0.93	OSMNX	Oppenheimer Intl Small	Pair Corr
0.9	TIDDX	T Rowe Price	Pair Corr
0.84	MIDGX	Mfs International New	Pair Corr
0.84	MIDHX	Mfs International New	Pair Corr
0.84	MIDRX	Mfs International New	Pair Corr
0.97	BTMPX	Ishares Msci Eafe	Pair Corr
0.97	BTMKX	Blackrock International	Pair Corr
0.97	MDIIX	Blackrock Intern Index	Pair Corr
0.76	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Moving against Harding Mutual Fund

0.8	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.8	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.8	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.8	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.54	AMGIX	Income Growth	Pair Corr
0.47	FSMMX	Fs Multi Strategy	Pair Corr
0.84	BAC	Bank of America Aggressive Push	Pair Corr
0.78	DIS	Walt Disney Aggressive Push	Pair Corr
0.69	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.67	SAGAX	Ridgeworth Innovative	Pair Corr
0.64	T	ATT Inc Aggressive Push	Pair Corr
0.62	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.59	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.55	AMEIX	Equity Growth	Pair Corr
0.45	MLMAX	Global E Portfolio	Pair Corr

Related Correlations Analysis

	DTEYX	MTCCX	BIPIX	JGLTX	TEPIX	GITAX
DTEYX		0.99	-0.22	0.99	0.95	0.98	DTEYX
MTCCX	0.99		-0.15	0.99	0.97	0.97	MTCCX
BIPIX	-0.22	-0.15		-0.13	-0.07	-0.2	BIPIX
JGLTX	0.99	0.99	-0.13		0.98	0.97	JGLTX
TEPIX	0.95	0.97	-0.07	0.98		0.92	TEPIX
GITAX	0.98	0.97	-0.2	0.97	0.92		GITAX
	DTEYX	MTCCX	BIPIX	JGLTX	TEPIX	GITAX

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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

MTCCX	+ 0.99	DTEYX
JGLTX	+ 0.99	DTEYX
JGLTX	+ 0.99	MTCCX
GITAX	+ 0.98	DTEYX
TEPIX	+ 0.98	JGLTX
TEPIX	+ 0.97	MTCCX

High negative correlations

BIPIX	- 0.22	DTEYX
GITAX	- 0.2	BIPIX
BIPIX	- 0.15	MTCCX
JGLTX	- 0.13	BIPIX
TEPIX	- 0.07	BIPIX

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
DTEYX	0.90	0.01	0.01	0.12	1.24	(0.91)	1.88	(2.49)	5.99
MTCCX	0.85	(0.01)	0.00	0.11	1.16	(0.88)	2.11	(2.31)	5.97
BIPIX	1.51	(0.24)	0.00	(0.02)	0.00	0.00	3.10	(3.98)	11.89
JGLTX	0.89	(0.04)	(0.03)	0.07	1.36	(0.85)	1.87	(2.61)	5.92
TEPIX	1.47	(0.11)	(0.01)	0.05	2.20	(1.43)	2.84	(3.72)	9.83
GITAX	0.86	0.03	0.02	0.15	1.21	(0.87)	2.19	(2.12)	5.42

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