Harding Loevner Correlations

HLMSX Fund

USD 17.15 0.20 1.15%

The current 90-days correlation between Harding Loevner Inte and Flakqx is -0.02 (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

Very weak diversification

The correlation between Harding Loevner International and DJI is 0.54 (i.e., Very 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 state.

Moving together with Harding Mutual Fund

0.9	HLEMX	Harding Loevner Emerging	Pair Corr
0.67	HLFFX	Harding Loevner Frontier	Pair Corr
0.76	HLFMX	Harding Loevner Frontier	Pair Corr
0.77	HLFZX	Highland Floating Rate	Pair Corr
0.87	HLIZX	Harding Loevner Inte	Pair Corr
0.86	HLIDX	Harding Loevner Inte	Pair Corr
0.76	HLMCX	Harding Loevner Chinese Potential Growth	Pair Corr
0.89	HLMEX	Harding Loevner Inst	Pair Corr
0.87	HLMIX	Harding Loevner Inte	Pair Corr
0.78	HLMNX	Harding Loevner Inte	Pair Corr
0.75	HLMOX	Harding Loevner Frontier	Pair Corr
0.93	HLMRX	Harding Loevner Inte	Pair Corr
0.93	HLRZX	Harding Loevner Inte	Pair Corr
0.99	OSMYX	Oppenheimer Intl Small	Pair Corr
0.99	OSCIX	Oppenheimer Intl Small	Pair Corr
0.93	OSMNX	Oppenheimer Intl Small	Pair Corr
0.97	TIDDX	T Rowe Price	Pair Corr
0.87	MIDGX	Mfs International New	Pair Corr
0.87	MIDHX	Mfs International New	Pair Corr
0.87	MIDRX	Mfs International New	Pair Corr
0.76	BRUFX	Bruce Fund Bruce	Pair Corr
0.76	KF	Korea Closed	Pair Corr
0.84	TNURX	1290 Unconstrained Bond	Pair Corr
0.73	VSCSX	Vanguard Short Term	Pair Corr
0.74	HIPCX	The Hartford Inflation	Pair Corr
0.86	REGAX	American Funds Emerging	Pair Corr
0.68	MPIBX	Bny Mellon Intermediate	Pair Corr
0.78	GSBCX	Goldman Sachs Income	Pair Corr
0.83	RWDIX	Redwood Managed Vola	Pair Corr

Moving against Harding Mutual Fund

0.41

SPGSX

State Street Premier

Pair Corr

Related Correlations Analysis

	FLAKQX	FZNOPX	FMUUX	WRLDX	FZDAQX	FTUFOX	DIHRX
FLAKQX		0.42	0.16	0.62	0.59	0.18	0.29	FLAKQX
FZNOPX	0.42		-0.34	0.09	0.25	-0.39	-0.15	FZNOPX
FMUUX	0.16	-0.34		0.77	0.32	0.65	0.92	FMUUX
WRLDX	0.62	0.09	0.77		0.6	0.6	0.87	WRLDX
FZDAQX	0.59	0.25	0.32	0.6		0.55	0.42	FZDAQX
FTUFOX	0.18	-0.39	0.65	0.6	0.55		0.66	FTUFOX
DIHRX	0.29	-0.15	0.92	0.87	0.42	0.66		DIHRX
	FLAKQX	FZNOPX	FMUUX	WRLDX	FZDAQX	FTUFOX	DIHRX

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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

DIHRX	+ 0.92	FMUUX
DIHRX	+ 0.87	WRLDX
WRLDX	+ 0.77	FMUUX
DIHRX	+ 0.66	FTUFOX
FTUFOX	+ 0.65	FMUUX
WRLDX	+ 0.62	FLAKQX

High negative correlations

FTUFOX	- 0.39	FZNOPX
FMUUX	- 0.34	FZNOPX
DIHRX	- 0.15	FZNOPX

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
FLAKQX	0.84	0.01	0.03	0.23	1.10	(0.94)	1.74	(1.84)	4.80
FZNOPX	0.75	0.02	0.03	0.01	0.82	(0.87)	1.55	(1.59)	3.75
FMUUX	0.03	0.00	0.00	(0.05)	0.00	0.00	0.10	0.00	0.40
WRLDX	0.56	0.08	0.14	(0.62)	0.64	(0.58)	1.24	(1.26)	2.96
FZDAQX	0.11	(0.01)	0.06	(0.09)	0.18	(0.15)	0.21	(0.21)	1.03
FTUFOX	0.10	0.00	0.22	0.08	0.03	(0.10)	0.20	(0.19)	0.60
DIHRX	0.57	0.13	0.19	0.20	0.52	(0.67)	1.51	(0.99)	3.80

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