Harding Loevner Correlations

HLFMX Fund

USD 8.10 0.02 0.25%

The current 90-days correlation between Harding Loevner Frontier and Eip Growth And is 0.26 (i.e., Modest 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 weak diversification

The correlation between Harding Loevner Frontier and DJI is 0.46 (i.e., Very weak 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

0.82	HLCTX	Harding Loevner Funds	Pair Corr
0.86	HLFFX	Harding Loevner Frontier	Pair Corr
1.0	HLFZX	Highland Floating Rate	Pair Corr
0.88	HLIZX	Harding Loevner Inte	Pair Corr
0.87	HLIDX	Harding Loevner Inte	Pair Corr
0.89	HLMIX	Harding Loevner Inte	Pair Corr
0.82	HLMNX	Harding Loevner Inte	Pair Corr
1.0	HLMOX	Harding Loevner Frontier	Pair Corr
0.84	HLMRX	Harding Loevner Inte	Pair Corr
0.84	HLMSX	Harding Loevner Inte	Pair Corr
0.84	HLRZX	Harding Loevner Inte	Pair Corr
0.92	HLXCX	Harding Loevner Funds	Pair Corr
0.61	NEWFX	New World Fund	Pair Corr
0.61	NWFFX	New World Fund	Pair Corr
0.63	NEWCX	New World Fund	Pair Corr
0.61	ODVYX	Oppenheimer Developing	Pair Corr

Moving against Harding Mutual Fund

0.51	INPIX	Internet Ultrasector	Pair Corr
0.51	INPSX	Internet Ultrasector	Pair Corr
0.31	RYVYX	Nasdaq 100 2x	Pair Corr

Related Correlations Analysis

	EIPIX	LGLSX	TFAGX	WPASX	SCGCX	CIPMX	HSUAX
EIPIX		0.93	0.84	0.7	0.85	0.9	0.88	EIPIX
LGLSX	0.93		0.96	0.74	0.88	0.92	0.96	LGLSX
TFAGX	0.84	0.96		0.75	0.91	0.88	0.96	TFAGX
WPASX	0.7	0.74	0.75		0.88	0.8	0.8	WPASX
SCGCX	0.85	0.88	0.91	0.88		0.92	0.91	SCGCX
CIPMX	0.9	0.92	0.88	0.8	0.92		0.86	CIPMX
HSUAX	0.88	0.96	0.96	0.8	0.91	0.86		HSUAX
	EIPIX	LGLSX	TFAGX	WPASX	SCGCX	CIPMX	HSUAX

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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
EIPIX	0.58	0.14	0.12	0.42	0.39	(0.69)	1.26	(0.98)	2.67
LGLSX	0.93	0.24	0.08	3.53	1.12	(0.95)	2.65	(1.69)	5.60
TFAGX	0.62	0.08	(0.05)	(1.01)	0.88	(0.67)	1.32	(1.38)	4.35
WPASX	0.58	(0.02)	(0.05)	0.10	0.71	(0.62)	1.27	(1.15)	4.06
SCGCX	0.44	(0.02)	(0.11)	0.09	0.48	(0.48)	1.00	(0.71)	2.74
CIPMX	0.66	0.01	0.00	0.14	0.72	(0.70)	1.22	(1.23)	4.05
HSUAX	0.71	0.15	0.01	(1.11)	0.72	(0.83)	1.43	(1.41)	4.58

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