Harding Loevner Correlations

HLFMX Fund

USD 9.70 0.02 0.21%

The current 90-days correlation between Harding Loevner Frontier and T Rowe Price is 0.05 (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

Very poor diversification

The correlation between Harding Loevner Frontier and DJI is 0.84 (i.e., Very 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 state.

Moving together with Harding Mutual Fund

0.78	HLGZX	Harding Loevner Global	Pair Corr
0.99	HLFFX	Harding Loevner Frontier	Pair Corr
0.9	HLIZX	Harding Loevner Inte	Pair Corr
0.73	HLIDX	Harding Loevner Inte	Pair Corr
0.81	HLMVX	Harding Loevner Global	Pair Corr
0.78	HLMGX	Harding Loevner Global	Pair Corr
0.9	HLMIX	Harding Loevner Inte	Pair Corr
0.67	HLMNX	Harding Loevner Inte	Pair Corr
0.99	HLMOX	Harding Loevner Frontier	Pair Corr
0.73	HLMRX	Harding Loevner Inte	Pair Corr
0.74	HLMSX	Harding Loevner Inte	Pair Corr
0.95	VEMAX	Vanguard Emerging Markets	Pair Corr
0.94	VEIEX	Vanguard Emerging Markets	Pair Corr
0.95	VEMIX	Vanguard Emerging Markets	Pair Corr
0.95	VEMRX	Vanguard Emerging Markets	Pair Corr
0.95	NEWFX	New World Fund	Pair Corr
0.94	NWFFX	New World Fund	Pair Corr
0.94	NEWCX	New World Fund	Pair Corr
0.94	FWWNX	American Funds New	Pair Corr
0.94	FNFWX	American Funds New	Pair Corr
0.86	RYMEX	Commodities Strategy	Pair Corr
0.88	RYMJX	Commodities Strategy	Pair Corr
0.89	RYMBX	Commodities Strategy	Pair Corr
0.93	BRUFX	Bruce Fund Bruce	Pair Corr
0.85	SPGSX	State Street Premier	Pair Corr
0.97	KF	Korea Closed	Pair Corr
0.84	FSLCX	Fidelity Small Cap	Pair Corr
0.85	GIPSX	Goldman Sachs Trust	Pair Corr
0.94	GMMRX	Nationwide Investor	Pair Corr
0.87	BBBMX	Bbh Limited Duration	Pair Corr
0.91	MINIX	Mfs International Value	Pair Corr
0.87	FSCWX	Nuveen Small Cap	Pair Corr
0.7	BIALX	Brown Advisory Global	Pair Corr
0.94	FGVMX	Fidelity New Markets	Pair Corr
0.95	TRZFX	T Rowe Price	Pair Corr
0.95	FHAOX	Fidelity Freedom Blend	Pair Corr
0.94	BUFIX	Buffalo International	Pair Corr

Moving against Harding Mutual Fund

0.69	HLMEX	Harding Loevner Inst	Pair Corr
0.55	ODVYX	Oppenheimer Developing	Pair Corr

Related Correlations Analysis

	DODLX	FAFMX	BBINX	JAFLX	TTRBX	GOBAX	TRZOX
DODLX		0.81	0.92	0.91	0.79	0.92	0.82	DODLX
FAFMX	0.81		0.9	0.76	0.64	0.74	0.75	FAFMX
BBINX	0.92	0.9		0.84	0.82	0.87	0.91	BBINX
JAFLX	0.91	0.76	0.84		0.83	0.71	0.78	JAFLX
TTRBX	0.79	0.64	0.82	0.83		0.69	0.9	TTRBX
GOBAX	0.92	0.74	0.87	0.71	0.69		0.79	GOBAX
TRZOX	0.82	0.75	0.91	0.78	0.9	0.79		TRZOX
	DODLX	FAFMX	BBINX	JAFLX	TTRBX	GOBAX	TRZOX

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
DODLX	0.14	0.02	(0.36)	0.29	0.00	(0.17)	0.27	(0.27)	0.54
FAFMX	0.07	0.00	(0.56)	0.18	0.00	(0.13)	0.19	(0.09)	0.75
BBINX	0.06	0.01	0.00	1.80	0.00	0.00	0.19	(0.10)	0.48
JAFLX	0.12	0.00	(0.50)	0.16	0.00	(0.15)	0.20	(0.20)	0.51
TTRBX	0.09	0.00	(0.64)	0.05	0.00	(0.13)	0.20	(0.20)	0.60
GOBAX	0.26	0.04	(0.15)	7.95	0.18	(0.31)	0.55	(0.45)	1.64
TRZOX	0.06	0.00	0.00	0.22	0.00	0.00	0.22	(0.22)	0.43

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