Harding Loevner Correlations

Mutual Funds . USA . 
Fund . Harding Loevner Frontier
HLFMX Fund  USD 7.89  0.02  0.25%   
The current 90-days correlation between Harding Loevner Frontier and Harding Loevner Funds is 0.55 (i.e., Very weak 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 Frontier 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 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 population.

Moving together with Harding Mutual Fund

  0.91HLCTX Harding Loevner FundsPairCorr
  0.75HLEMX Harding Loevner EmergingPairCorr
  0.76HLEZX Harding Loevner InstPairCorr
  0.61HLGZX Harding Loevner GlobalPairCorr
  0.91HLFFX Harding Loevner FrontierPairCorr
  1.0HLFZX Highland Floating RatePairCorr
  0.84HLIZX Harding Loevner IntePairCorr
  0.87HLIDX Harding Loevner IntePairCorr
  0.61HLMVX Harding Loevner GlobalPairCorr
  0.8HLMCX Harding Loevner ChinesePairCorr
  0.77HLMEX Harding Loevner InstPairCorr
  0.61HLMGX Harding Loevner GlobalPairCorr
  0.84HLMIX Harding Loevner IntePairCorr
  0.84HLMNX Harding Loevner IntePairCorr
  1.0HLMOX Harding Loevner FrontierPairCorr
  0.93HLMRX Harding Loevner IntePairCorr
  0.93HLMSX Harding Loevner IntePairCorr
  0.93HLRZX Harding Loevner IntePairCorr
  0.94HLXCX Harding Loevner FundsPairCorr
  0.9VEMAX Vanguard Emerging MarketsPairCorr
  0.9VEIEX Vanguard Emerging MarketsPairCorr
  0.9VEMIX Vanguard Emerging MarketsPairCorr
  0.9VEMRX Vanguard Emerging MarketsPairCorr
  0.87FWWNX American Funds NewPairCorr
  0.87FNFWX American Funds NewPairCorr
  0.83NEWFX New World FundPairCorr
  0.87NWFFX New World FundPairCorr
  0.83NEWCX New World FundPairCorr
  0.93ODVYX Oppenheimer DevelopingPairCorr
  0.72GAAVX Gmo Alternative AlloPairCorr
  0.74GABFX Gmo Asset AllocationPairCorr

Moving against Harding Mutual Fund

  0.84PNDIX Pender Real EstatePairCorr
  0.74MSSMX Small Pany GrowthPairCorr
  0.58VWSTX Vanguard Short TermPairCorr
  0.57VAADX Virtus ConvertiblePairCorr
  0.56ENGRX Vest Large Cap Downward RallyPairCorr
  0.56QGMIX Aqr Global MacroPairCorr
  0.36GHVIX Gmo High YieldPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
HLCTX  0.60 (0.13) 0.00 (0.67) 0.00 
 0.00 
 1.08 
(1.61)
 3.89 
HLEMX  0.81 (0.32) 0.00  2.50  0.00 
 0.00 
 1.14 
(1.82)
 14.54 
HLEZX  0.77 (0.29) 0.00  3.01  0.00 
 0.00 
 1.10 
(1.82)
 12.85 
HLGZX  1.03 (0.35) 0.00  1.16  0.00 
 0.00 
 1.19 
(1.32)
 25.06 
HLFFX  0.39 (0.09) 0.00 (0.90) 0.00 
 0.00 
 0.73 
(0.87)
 2.64 
HLFMX  0.37 (0.06) 0.00 (0.41) 0.00 
 0.00 
 0.76 
(0.88)
 2.48 
HLFZX  0.38 (0.06) 0.00 (0.40) 0.00 
 0.00 
 0.75 
(0.87)
 2.45 
HLIZX  0.66 (0.18) 0.00 (2.40) 0.00 
 0.00 
 0.93 
(1.65)
 7.11 
HLIDX  0.58 (0.09) 0.00 (0.49) 0.00 
 0.00 
 0.93 
(1.30)
 4.07 
HLMVX  1.03 (0.35) 0.00  1.15  0.00 
 0.00 
 1.19 
(1.34)
 25.01 

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