Harding Loevner Correlations

HLGZX Fund

USD 34.42 0.29 0.85%

The current 90-days correlation between Harding Loevner Global and Transamerica High Yield is 0.43 (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

Good diversification

The correlation between Harding Loevner Global and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Harding Loevner Global 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 Global. 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 nation.

Moving together with Harding Mutual Fund

0.73	HLCTX	Harding Loevner Funds	Pair Corr
0.97	HLEMX	Harding Loevner Emerging	Pair Corr
0.97	HLEZX	Harding Loevner Inst	Pair Corr
0.82	HLFFX	Harding Loevner Frontier	Pair Corr
0.61	HLFMX	Harding Loevner Frontier	Pair Corr
0.91	HLIZX	Harding Loevner Inte	Pair Corr
0.67	HLIDX	Harding Loevner Inte	Pair Corr
1.0	HLMVX	Harding Loevner Global	Pair Corr
0.97	HLMEX	Harding Loevner Inst	Pair Corr
1.0	HLMGX	Harding Loevner Global	Pair Corr
0.91	HLMIX	Harding Loevner Inte	Pair Corr
0.91	HLMNX	Harding Loevner Inte	Pair Corr
0.61	HLMOX	Harding Loevner Frontier	Pair Corr
0.75	HLMRX	Harding Loevner Inte	Pair Corr
0.75	HLMSX	Harding Loevner Inte	Pair Corr
0.75	HLXCX	Harding Loevner Funds	Pair Corr
0.9	FNFPX	American Funds New	Pair Corr
0.9	FFPNX	American Funds New	Pair Corr
0.92	NPFCX	New Perspective	Pair Corr
0.87	ANWPX	New Perspective	Pair Corr
0.91	NPFFX	New Perspective	Pair Corr
0.91	CNPAX	New Perspective	Pair Corr
0.91	CNPEX	New Perspective	Pair Corr
0.91	CNPFX	New Perspective	Pair Corr
0.92	CNPCX	New Perspective	Pair Corr
0.93	RNPAX	New Perspective	Pair Corr
0.88	BIPIX	Biotechnology Ultrasector	Pair Corr

Moving against Harding Mutual Fund

0.71	KMDNX	Kinetics Multi-disciplina	Pair Corr
0.34	ASHIX	Allianzgi Short Duration	Pair Corr

Related Correlations Analysis

	TAHFX	DNHYX	VRHYX	NMHYX	ARTFX
TAHFX		0.9	0.9	0.9	0.91	TAHFX
DNHYX	0.9		0.96	0.99	0.96	DNHYX
VRHYX	0.9	0.96		0.95	0.98	VRHYX
NMHYX	0.9	0.99	0.95		0.96	NMHYX
ARTFX	0.91	0.96	0.98	0.96		ARTFX
	TAHFX	DNHYX	VRHYX	NMHYX	ARTFX

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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
TAHFX	0.14	0.01	(0.04)	0.27	0.05	(0.22)	0.37	(0.25)	1.22
DNHYX	0.14	0.01	(0.03)	0.43	0.09	(0.17)	0.23	(0.23)	1.04
VRHYX	0.14	0.01	(0.02)	0.74	0.00	(0.38)	0.52	(0.26)	1.30
NMHYX	0.10	0.01	(0.05)	0.56	0.00	(0.15)	0.24	(0.24)	0.72
ARTFX	0.12	0.01	(0.04)	1.29	0.00	(0.18)	0.44	(0.22)	1.10

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