Harding Loevner Correlations

HLCTX Fund

11.62 0.10 0.87%

The current 90-days correlation between Harding Loevner Funds and Artisan High Income 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

Modest diversification

The correlation between Harding Loevner Funds and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Harding Loevner Funds 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 Funds. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Harding Mutual Fund

0.98	VGTSX	Vanguard Total Inter	Pair Corr
0.98	VTIAX	Vanguard Total Inter	Pair Corr
0.98	VTSNX	Vanguard Total Inter	Pair Corr
0.98	VTPSX	Vanguard Total Inter	Pair Corr
0.98	VTISX	Vanguard Total Inter	Pair Corr
0.91	VTMGX	Vanguard Developed	Pair Corr
0.93	VDVIX	Vanguard Developed	Pair Corr
0.93	VTMNX	Vanguard Developed	Pair Corr
0.93	VDIPX	Vanguard Developed	Pair Corr
0.9	FSPSX	Fidelity International	Pair Corr
0.64	RYCCX	Nasdaq 100 2x	Pair Corr
0.68	JNJ	Johnson Johnson	Pair Corr
0.7	CAT	Caterpillar Earnings Call This Week	Pair Corr
0.68	DD	Dupont De Nemours Earnings Call This Week	Pair Corr

Moving against Harding Mutual Fund

0.38	BA	Boeing	Pair Corr
0.32	DIS	Walt Disney Earnings Call This Week	Pair Corr

Related Correlations Analysis

	ARTFX	TAHFX	GHVIX	MPHSX	HAHAX	IRONX	SGYAX
ARTFX		0.92	0.92	0.92	0.95	0.62	0.91	ARTFX
TAHFX	0.92		0.92	0.99	0.93	0.68	0.92	TAHFX
GHVIX	0.92	0.92		0.91	0.96	0.75	0.83	GHVIX
MPHSX	0.92	0.99	0.91		0.93	0.68	0.92	MPHSX
HAHAX	0.95	0.93	0.96	0.93		0.72	0.84	HAHAX
IRONX	0.62	0.68	0.75	0.68	0.72		0.48	IRONX
SGYAX	0.91	0.92	0.83	0.92	0.84	0.48		SGYAX
	ARTFX	TAHFX	GHVIX	MPHSX	HAHAX	IRONX	SGYAX

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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
ARTFX	0.11	0.02	(0.31)	(11.49)	0.00	(0.18)	0.44	(0.22)	1.10
TAHFX	0.14	0.02	(0.31)	0.54	0.00	(0.22)	0.37	(0.24)	1.22
GHVIX	0.15	0.02	(0.26)	1.19	0.07	(0.17)	0.24	(0.36)	0.96
MPHSX	0.12	0.02	(0.28)	0.60	0.00	(0.20)	0.37	(0.25)	1.11
HAHAX	0.14	0.00	(0.27)	0.00	0.00	(0.23)	0.29	(0.29)	1.29
IRONX	0.49	0.01	(0.07)	0.13	0.69	(0.53)	0.82	(1.12)	4.63
SGYAX	0.15	0.02	(0.33)	0.75	0.00	(0.26)	0.56	(0.28)	1.27

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