Harding Loevner Correlations
| HLMCX Fund | USD 5.40 0.09 1.69% |
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 Chinese and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Harding Loevner Chinese and DJI in the same portfolio, assuming nothing else is changed.
Harding |
Moving together with Harding Mutual Fund
| 0.91 | FHKTX | Fidelity China Region | PairCorr |
| 0.91 | FCHKX | Fidelity China Region | PairCorr |
| 0.9 | FHKAX | Fidelity China Region | PairCorr |
| 0.9 | FHKIX | Fidelity China Region | PairCorr |
| 0.9 | FIQFX | Fidelity China Region | PairCorr |
| 0.9 | FHKCX | Fidelity China Region | PairCorr |
| 0.97 | MICFX | Matthews China Steady Growth | PairCorr |
| 0.97 | MCHFX | Matthews China Steady Growth | PairCorr |
| 0.61 | DD | Dupont De Nemours Earnings Call This Week | PairCorr |
Moving against Harding Mutual Fund
| 0.64 | PQTAX | Pimco Trends Managed | PairCorr |
| 0.64 | PQTNX | Pimco Trends Managed | PairCorr |
| 0.64 | PQTIX | Aa Pimco Tr | PairCorr |
| 0.58 | GPMFX | Guidepath Managed Futures | PairCorr |
| 0.43 | DIS | Walt Disney Earnings Call This Week | PairCorr |
| 0.41 | CSCO | Cisco Systems | PairCorr |
| 0.4 | AXP | American Express | PairCorr |
| 0.35 | WMT | Walmart Aggressive Push | PairCorr |
| 0.34 | JPM | JPMorgan Chase | PairCorr |
Related Correlations Analysis
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | LGRXX | ||
| 0.0 | 0.72 | 0.92 | 0.91 | 0.89 | BBINX | ||
| 0.0 | 0.72 | 0.74 | 0.73 | 0.65 | HMJFX | ||
| 0.0 | 0.92 | 0.74 | 0.99 | 0.99 | TWTIX | ||
| 0.0 | 0.91 | 0.73 | 0.99 | 0.98 | PCMNX | ||
| 0.0 | 0.89 | 0.65 | 0.99 | 0.98 | BIDPX | ||
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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
| High negative correlations
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| LGRXX | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| BBINX | 0.14 | 0.00 | (0.27) | 0.87 | 0.17 | 0.30 | 1.27 | |||
| HMJFX | 0.06 | 0.00 | (0.41) | 0.25 | 0.00 | 0.10 | 0.61 | |||
| TWTIX | 0.15 | 0.00 | (0.25) | 0.12 | 0.19 | 0.37 | 1.31 | |||
| PCMNX | 0.15 | 0.00 | (0.25) | 0.05 | 0.22 | 0.25 | 1.32 | |||
| BIDPX | 0.19 | 0.00 | (0.22) | 0.03 | 0.27 | 0.37 | 1.64 |