Harding Loevner Correlations

HLIZX Fund

USD 26.81 0.16 0.60%

The current 90-days correlation between Harding Loevner Inte and Harding Loevner Funds is -0.21 (i.e., Very 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

Very weak diversification

The correlation between Harding Loevner International and DJI is 0.4 (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 International 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 International. 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

0.94	HLCTX	Harding Loevner Funds	Pair Corr
0.7	HLEMX	Harding Loevner Emerging	Pair Corr
0.71	HLEZX	Harding Loevner Inst	Pair Corr
0.86	HLFFX	Harding Loevner Frontier	Pair Corr
0.9	HLFMX	Harding Loevner Frontier	Pair Corr
0.9	HLFZX	Highland Floating Rate	Pair Corr
0.97	HLIDX	Harding Loevner Inte	Pair Corr
0.71	HLMEX	Harding Loevner Inst	Pair Corr
1.0	HLMIX	Harding Loevner Inte	Pair Corr
1.0	HLMNX	Harding Loevner Inte	Pair Corr
0.86	HLMOX	Harding Loevner Frontier	Pair Corr
0.95	HLMRX	Harding Loevner Inte	Pair Corr
0.95	HLMSX	Harding Loevner Inte	Pair Corr
0.95	HLRZX	Harding Loevner Inte	Pair Corr
0.83	HLXCX	Harding Loevner Funds	Pair Corr
0.88	RERFX	Europacific Growth	Pair Corr
0.96	AEPFX	Europacific Growth	Pair Corr
0.96	CEUAX	Europacific Growth	Pair Corr
0.97	CEUCX	Europacific Growth	Pair Corr
0.96	RERCX	Europacific Growth	Pair Corr
0.96	REREX	Europacific Growth	Pair Corr
0.96	RERGX	Europacific Growth	Pair Corr
0.96	CEUFX	Europacific Growth	Pair Corr
0.88	CEUEX	Europacific Growth	Pair Corr
0.96	RERAX	Europacific Growth	Pair Corr
0.88	NHS	Neuberger Berman High	Pair Corr

Moving against Harding Mutual Fund

0.37	ARTMX	Artisan Mid Cap	Pair Corr
0.36	VIPAX	Index Plus Largecap	Pair Corr
0.34	TWQZX	Transamerica Large Cap	Pair Corr
0.32	VFINX	Vanguard 500 Index	Pair Corr

Related Correlations Analysis

	HLCTX	HLEEX	HLEMX	HLEZX	HLGZX	HLFFX	HLFMX	HLIZX	HLIDX
HLCTX		0.0	0.7	0.7	0.33	0.9	0.85	0.94	0.9	HLCTX
HLEEX	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	HLEEX
HLEMX	0.7	0.0		1.0	0.73	0.5	0.48	0.7	0.52	HLEMX
HLEZX	0.7	0.0	1.0		0.73	0.51	0.48	0.71	0.53	HLEZX
HLGZX	0.33	0.0	0.73	0.73		0.23	0.25	0.38	0.24	HLGZX
HLFFX	0.9	0.0	0.5	0.51	0.23		0.93	0.86	0.88	HLFFX
HLFMX	0.85	0.0	0.48	0.48	0.25	0.93		0.9	0.93	HLFMX
HLIZX	0.94	0.0	0.7	0.71	0.38	0.86	0.9		0.97	HLIZX
HLIDX	0.9	0.0	0.52	0.53	0.24	0.88	0.93	0.97		HLIDX
	HLCTX	HLEEX	HLEMX	HLEZX	HLGZX	HLFFX	HLFMX	HLIZX	HLIDX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

HLEZX	+ 1.0	HLEMX
HLIDX	+ 0.97	HLIZX
HLIZX	+ 0.94	HLCTX
HLFMX	+ 0.93	HLFFX
HLIDX	+ 0.93	HLFMX
HLFFX	+ 0.9	HLCTX

High negative correlations

HLIDX	- 0.0	HLEEX
HLIZX	- 0.0	HLEEX
HLFMX	- 0.0	HLEEX
HLFFX	- 0.0	HLEEX
HLGZX	- 0.0	HLEEX
HLEZX	- 0.0	HLEEX

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
HLCTX	0.63	(0.07)	0.00	3.20	0.00	0.00	1.25	(1.58)	4.28
HLEEX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HLEMX	0.69	(0.07)	0.00	(0.03)	0.00	0.00	1.39	(1.40)	4.55
HLEZX	0.69	(0.07)	0.00	(0.03)	0.00	0.00	1.40	(1.37)	4.50
HLGZX	0.60	(0.05)	(0.09)	0.05	0.86	(0.57)	1.25	(1.33)	4.18
HLFFX	0.32	(0.05)	0.00	(1.15)	0.00	0.00	0.71	(0.71)	2.15
HLFMX	0.32	(0.08)	0.00	(0.20)	0.00	0.00	0.62	(0.72)	1.93
HLIZX	0.62	(0.13)	0.00	(0.17)	0.00	0.00	1.28	(1.53)	4.11
HLIDX	0.62	(0.14)	0.00	(0.20)	0.00	0.00	1.46	(1.45)	4.06

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