Harding Loevner Correlations

HLFFX Fund

USD 9.76 0.02 0.21%

The current 90-days correlation between Harding Loevner Frontier and Buffalo High Yield is -0.01 (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

Poor diversification

The correlation between Harding Loevner Frontier and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Harding Loevner Frontier 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 Frontier. 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 price.

Moving together with Harding Mutual Fund

0.78	HLGZX	Harding Loevner Global	Pair Corr
0.98	HLFMX	Harding Loevner Frontier	Pair Corr
0.98	HLFZX	Highland Floating Rate	Pair Corr
0.86	HLIZX	Harding Loevner Inte	Pair Corr
0.91	HLIDX	Harding Loevner Inte	Pair Corr
0.78	HLMVX	Harding Loevner Global	Pair Corr
0.78	HLMGX	Harding Loevner Global	Pair Corr
0.86	HLMIX	Harding Loevner Inte	Pair Corr
0.86	HLMNX	Harding Loevner Inte	Pair Corr
0.98	HLMOX	Harding Loevner Frontier	Pair Corr
0.88	HLMRX	Harding Loevner Inte	Pair Corr
0.88	HLMSX	Harding Loevner Inte	Pair Corr
0.88	HLRZX	Harding Loevner Inte	Pair Corr
0.87	VEMAX	Vanguard Emerging Markets	Pair Corr
0.87	VEIEX	Vanguard Emerging Markets	Pair Corr
0.87	VEMIX	Vanguard Emerging Markets	Pair Corr
0.87	VEMRX	Vanguard Emerging Markets	Pair Corr
0.91	NEWFX	New World Fund	Pair Corr
0.9	NWFFX	New World Fund	Pair Corr
0.9	NEWCX	New World Fund	Pair Corr
0.9	FWWNX	American Funds New	Pair Corr
0.9	FNFWX	American Funds New	Pair Corr
0.79	NHS	Neuberger Berman High	Pair Corr
0.89	NEMIX	Neuberger Berman Emerging	Pair Corr
0.74	NBSSX	Neuberger Berman Focus	Pair Corr
0.61	XMSDX	Morgan Stanley Emerging	Pair Corr
0.91	BRKIX	Mfs Blended Research	Pair Corr
0.73	NGDCX	Neuberger Berman Guardian	Pair Corr
0.92	BIFRX	Blackrock Intl Fd	Pair Corr
0.75	WELIX	William Blair Emerging	Pair Corr
0.8	GIFFX	Invesco Growth And	Pair Corr
0.87	EKSCX	Wells Fargo Diversified	Pair Corr
0.61	WICGX	William Blair China	Pair Corr
0.73	NGDRX	Neuberger Berman Guardian	Pair Corr

Moving against Harding Mutual Fund

0.69	HLEZX	Harding Loevner Inst	Pair Corr
0.69	HLMEX	Harding Loevner Inst	Pair Corr
0.61	ODVYX	Oppenheimer Developing	Pair Corr

Related Correlations Analysis

	MRHYX	NMHYX	BUFHX	DNHYX	RIMOX	BUIHX
MRHYX		0.98	0.96	0.97	0.98	0.93	MRHYX
NMHYX	0.98		0.97	0.97	0.94	0.96	NMHYX
BUFHX	0.96	0.97		0.96	0.92	0.96	BUFHX
DNHYX	0.97	0.97	0.96		0.95	0.95	DNHYX
RIMOX	0.98	0.94	0.92	0.95		0.91	RIMOX
BUIHX	0.93	0.96	0.96	0.95	0.91		BUIHX
	MRHYX	NMHYX	BUFHX	DNHYX	RIMOX	BUIHX

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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MRHYX	0.09	0.01	(0.24)	0.20	(0.15)	0.24	(0.23)	0.47
NMHYX	0.10	0.01	(0.32)	0.13	(0.14)	0.24	(0.12)	0.60
BUFHX	0.10	0.00	(0.30)	0.08	(0.14)	0.19	(0.19)	0.76
DNHYX	0.12	0.01	(0.28)	0.16	(0.16)	0.23	(0.23)	0.70
RIMOX	0.05	0.03	(0.54)	0.70	(0.09)	0.15	(0.05)	0.36
BUIHX	0.10	0.01	(0.28)	0.74	(0.15)	0.29	(0.19)	0.77

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