Harbor Convertible Correlations

HRCSX Fund

USD 12.11 0.03 0.25%

The current 90-days correlation between Harbor Vertible Secu and Embark Commodity Strategy is 0.05 (i.e., Significant diversification). The correlation of Harbor Convertible 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.

Harbor Convertible Correlation With Market

Poor diversification

The correlation between Harbor Vertible Securities and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Harbor Vertible Securities 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 Harbor Vertible Securities. 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 Harbor Mutual Fund

1.0	HICSX	Harbor Vertible Secu	Pair Corr
0.75	HIIGX	Harbor International	Pair Corr
0.96	HIMGX	Harbor Mid Cap	Pair Corr
0.92	HIMVX	Harbor Mid Cap	Pair Corr
0.87	HILVX	Harbor Large Cap	Pair Corr
0.93	HISVX	Harbor Small Cap	Pair Corr
0.64	HISWX	Harbor Strategic Growth	Pair Corr
0.91	HISGX	Harbor Small Cap	Pair Corr
0.86	HMCLX	Harbor Mid Cap	Pair Corr
0.86	HMCNX	Harbor Mid Cap	Pair Corr
0.86	HMCRX	Harbor Mid Cap	Pair Corr
0.91	HNACX	Harbor Capital Appre	Pair Corr
1.0	HNCVX	Harbor Vertible Secu	Pair Corr
0.92	ESCWX	Embark Small Cap	Pair Corr
0.92	ESCQX	Embark Small Cap	Pair Corr
0.76	HNGFX	Harbor International	Pair Corr
0.62	HNGSX	Harbor Strategic Growth	Pair Corr
0.93	HNMVX	Harbor Mid Cap	Pair Corr
0.88	HNLVX	Harbor Large Cap	Pair Corr
0.96	HNMGX	Harbor Mid Cap	Pair Corr
0.91	HNSGX	Harbor Small Cap	Pair Corr
0.93	HNVRX	Harbor Small Cap	Pair Corr
0.91	HRCAX	Harbor Capital Appre	Pair Corr
0.75	HRIGX	Harbor International	Pair Corr
0.96	HRMGX	Harbor Mid Cap	Pair Corr
0.92	HRMVX	Harbor Mid Cap	Pair Corr
0.87	HRLVX	Harbor Large Cap	Pair Corr

Moving against Harbor Mutual Fund

0.81	HIISX	Harbor International	Pair Corr
0.63	HIINX	Harbor International	Pair Corr
0.45	HIIDX	Harbor Diversified	Pair Corr
0.8	HNISX	Harbor International	Pair Corr
0.69	HRBDX	Harbor Bond Fund	Pair Corr
0.62	HNINX	Harbor International	Pair Corr
0.45	HRIDX	Harbor Diversified	Pair Corr
0.44	HNIDX	Harbor Diversified	Pair Corr
0.81	HRISX	Harbor International	Pair Corr
0.8	HAISX	Harbor International	Pair Corr
0.72	HACBX	Harbor Core Bond	Pair Corr
0.68	HABDX	Harbor Bond Fund	Pair Corr
0.62	HRINX	Harbor International	Pair Corr
0.62	HAINX	Harbor International	Pair Corr

Related Correlations Analysis

	ECSWX	ECSQX	HYFAX	HYFIX	HYFRX	HHYAX	HHYNX	HHYRX	HHYVX
ECSWX		1.0	-0.62	0.3	-0.65	0.0	0.0	0.0	0.0	ECSWX
ECSQX	1.0		-0.62	0.3	-0.65	0.0	0.0	0.0	0.0	ECSQX
HYFAX	-0.62	-0.62		0.23	0.99	0.0	0.0	0.0	0.0	HYFAX
HYFIX	0.3	0.3	0.23		0.2	0.0	0.0	0.0	0.0	HYFIX
HYFRX	-0.65	-0.65	0.99	0.2		0.0	0.0	0.0	0.0	HYFRX
HHYAX	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	HHYAX
HHYNX	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	HHYNX
HHYRX	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	HHYRX
HHYVX	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		HHYVX
	ECSWX	ECSQX	HYFAX	HYFIX	HYFRX	HHYAX	HHYNX	HHYRX	HHYVX

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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

ECSQX	+ 1.0	ECSWX
HYFRX	+ 0.99	HYFAX
HYFIX	+ 0.3	ECSWX
HYFIX	+ 0.3	ECSQX
HYFIX	+ 0.23	HYFAX
HYFRX	+ 0.2	HYFIX

High negative correlations

HYFRX	- 0.65	ECSQX
HYFRX	- 0.65	ECSWX
HYFAX	- 0.62	ECSQX
HYFAX	- 0.62	ECSWX
HHYVX	- 0.0	HHYRX
HHYVX	- 0.0	HHYNX

Risk-Adjusted Indicators

There is a big difference between Harbor Mutual Fund performing well and Harbor Convertible 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 Harbor Convertible'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
ECSWX	0.61	0.04	(0.08)	(0.84)	0.89	(0.57)	1.35	(1.44)	3.57
ECSQX	0.61	0.04	(0.09)	(0.73)	0.86	(0.59)	1.35	(1.40)	3.57
HYFAX	0.14	(0.03)	0.00	6.57	0.00	0.00	0.35	(0.46)	1.73
HYFIX	0.15	(0.01)	(0.29)	(0.48)	0.21	(0.34)	0.35	(0.57)	1.63
HYFRX	0.13	(0.04)	0.00	(3.45)	0.00	0.00	0.34	(0.57)	1.61
HHYAX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HHYNX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HHYRX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HHYVX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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