Harding Loevner Correlations

HLEMX Fund

USD 23.45 0.00 0.00%

The current 90-days correlation between Harding Loevner Emerging and T Rowe Price is -0.12 (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 good diversification

The correlation between Harding Loevner Emerging and DJI is -0.23 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Harding Loevner Emerging 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. 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 industry.

Moving against Harding Mutual Fund

0.47	HLMSX	Harding Loevner Inte	Pair Corr
0.43	HLRZX	Harding Loevner Inte	Pair Corr
0.37	HLMRX	Harding Loevner Inte	Pair Corr
0.36	HLFMX	Harding Loevner Frontier	Pair Corr
0.36	HLFZX	Highland Floating Rate	Pair Corr
0.35	VEIEX	Vanguard Emerging Markets	Pair Corr
0.35	VEMIX	Vanguard Emerging Markets	Pair Corr
0.48	USA	Liberty All Star	Pair Corr
0.43	ASG	Liberty All Star	Pair Corr
0.38	PQTNX	Pimco Trends Managed	Pair Corr
0.37	NEWCX	New World Fund	Pair Corr
0.37	MSGCX	Meridian Small Cap	Pair Corr
0.35	TEURX	Franklin Mutual European	Pair Corr

Related Correlations Analysis

	PRCNX	HLMEX	FLDGX	BACPX	HULEX	MNHIX	SPWYX	FLDFX	OMAH	SGISX
PRCNX		-0.94	0.78	-0.29	0.77	0.59	0.31	0.88	0.59	0.72	PRCNX
HLMEX	-0.94		-0.74	0.3	-0.63	-0.46	-0.1	-0.82	-0.49	-0.62	HLMEX
FLDGX	0.78	-0.74		-0.21	0.79	0.78	0.26	0.75	0.54	0.89	FLDGX
BACPX	-0.29	0.3	-0.21		-0.17	-0.17	0.06	-0.13	0.01	-0.25	BACPX
HULEX	0.77	-0.63	0.79	-0.17		0.82	0.67	0.82	0.65	0.84	HULEX
MNHIX	0.59	-0.46	0.78	-0.17	0.82		0.45	0.65	0.63	0.88	MNHIX
SPWYX	0.31	-0.1	0.26	0.06	0.67	0.45		0.43	0.32	0.41	SPWYX
FLDFX	0.88	-0.82	0.75	-0.13	0.82	0.65	0.43		0.78	0.7	FLDFX
OMAH	0.59	-0.49	0.54	0.01	0.65	0.63	0.32	0.78		0.57	OMAH
SGISX	0.72	-0.62	0.89	-0.25	0.84	0.88	0.41	0.7	0.57		SGISX
	PRCNX	HLMEX	FLDGX	BACPX	HULEX	MNHIX	SPWYX	FLDFX	OMAH	SGISX

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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

SGISX	+ 0.89	FLDGX
FLDFX	+ 0.88	PRCNX
SGISX	+ 0.88	MNHIX
SGISX	+ 0.84	HULEX
MNHIX	+ 0.82	HULEX
FLDFX	+ 0.82	HULEX

High negative correlations

HLMEX	- 0.94	PRCNX
FLDFX	- 0.82	HLMEX
FLDGX	- 0.74	HLMEX
HULEX	- 0.63	HLMEX
SGISX	- 0.62	HLMEX
OMAH	- 0.49	HLMEX

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
PRCNX	0.72	0.18	0.17	0.46	0.43	(0.91)	1.09	(1.26)	11.41
HLMEX	1.63	(0.72)	0.00	(0.74)	0.00	0.00	1.18	(1.35)	50.80
FLDGX	0.69	0.14	0.06	3.57	0.65	(0.78)	1.22	(1.10)	8.31
BACPX	0.26	(0.05)	0.00	(0.31)	0.00	0.00	0.42	(0.43)	4.69
HULEX	0.55	(0.04)	(0.06)	0.04	0.72	(0.56)	1.01	(1.31)	2.84
MNHIX	0.56	0.02	0.00	0.11	0.61	(0.62)	1.29	(1.00)	2.66
SPWYX	1.07	(0.06)	(0.01)	0.04	1.36	(1.05)	2.04	(2.04)	6.81
FLDFX	0.48	0.02	0.00	0.11	0.48	(0.53)	0.93	(0.95)	3.74
OMAH	0.41	(0.02)	(0.09)	0.04	0.62	(0.38)	1.09	(1.08)	2.40
SGISX	0.67	0.05	0.04	0.14	0.71	(0.72)	1.53	(1.23)	5.73

Harding Loevner Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Harding Loevner mutual fund to make a market-neutral strategy. Peer analysis of Harding Loevner could also be used in its relative valuation, which is a method of valuing Harding Loevner by comparing valuation metrics with similar companies.

T Rowe Price Harding Loevner Institutional Dynamic Growth Fund Blackrock Conservative Prprdptfinvstra Huber Capital Equity Pro Blend Maximum Term American Beacon Stephens Balanced Fund Retail VistaShares Target 15 Stewart Global Equity American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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