Harding Loevner Correlations

Mutual Funds . USA . 
Fund . Harding Loevner Institutional
HLMEX Fund  USD 11.78  0.10  0.86%   
The current 90-days correlation between Harding Loevner Inst and Western Asset High is 0.11 (i.e., Average 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

Pay attention - limited upside

The correlation between Harding Loevner Institutional and DJI is -0.75 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Harding Loevner Institutional 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 Institutional. 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 housing.

Moving together with Harding Mutual Fund

  1.0HLEZX Harding Loevner InstPairCorr
  0.92ODVYX Oppenheimer DevelopingPairCorr

Moving against Harding Mutual Fund

  0.99HLGZX Harding Loevner GlobalPairCorr
  0.99HLMVX Harding Loevner GlobalPairCorr
  0.99HLMGX Harding Loevner GlobalPairCorr
  0.95HLIZX Harding Loevner IntePairCorr
  0.95HLMIX Harding Loevner IntePairCorr
  0.95HLMNX Harding Loevner IntePairCorr
  0.89HLIDX Harding Loevner IntePairCorr
  0.87HLMSX Harding Loevner IntePairCorr
  0.87HLRZX Harding Loevner IntePairCorr
  0.86HLMRX Harding Loevner IntePairCorr
  0.7HLFMX Harding Loevner FrontierPairCorr
  0.7HLFZX Highland Floating RatePairCorr
  0.7HLMOX Harding Loevner FrontierPairCorr
  0.69HLFFX Harding Loevner FrontierPairCorr
  0.51VEMRX Vanguard Emerging MarketsPairCorr
  0.49VEMAX Vanguard Emerging MarketsPairCorr
  0.49VEIEX Vanguard Emerging MarketsPairCorr
  0.49VEMIX Vanguard Emerging MarketsPairCorr
  0.95FGIYX Nuveen Global InfrasPairCorr
  0.85CEUFX Europacific GrowthPairCorr
  0.8NWFFX New World FundPairCorr
  0.8NEWCX New World FundPairCorr
  0.8FWWNX American Funds NewPairCorr
  0.8FNFWX American Funds NewPairCorr
  0.78NEWFX New World FundPairCorr
  0.78CFSTX Short TermPairCorr
  0.78MXCPX Great West ServativePairCorr
  0.75GCFRX Nationwide InvestorPairCorr
  0.71FRKMX Fidelity Managed RetPairCorr
  0.7IHIFX Ivy High IncomePairCorr
  0.68IVHIX Ivy High IncomePairCorr
  0.67WHIAX Ivy High IncomePairCorr
  0.65WRHIX Ivy High IncomePairCorr
  0.63PACOX T Rowe PricePairCorr
  0.58FSKAX Fidelity Total MarketPairCorr
  0.49FELCX Fidelity Advisor SemPairCorr
  0.39SRINX Columbia Porate IncomePairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
NSCFX  0.94  0.17  0.18  0.22  0.73 
(1.10)
 2.64 
(1.66)
 10.41 
NSCRX  0.95  0.17  0.18  0.22  0.73 
(1.10)
 2.63 
(1.66)
 10.64 
AINTX  0.82  0.30  0.28  1.00  0.37 
(1.05)
 1.68 
(1.29)
 15.57 
FLSPX  0.61  0.09  0.11  0.16  0.56 
(0.72)
 1.29 
(1.32)
 6.07 
FUND  0.77  0.22  0.17  1.35  0.69 
(0.90)
 1.74 
(1.49)
 4.14 
BTMFX  0.72  0.15  0.17  0.36  0.41 
(0.95)
 1.62 
(0.96)
 12.36 
BTEFX  0.47 (0.01)(0.05) 0.05  0.52 
(0.53)
 0.94 
(0.84)
 3.32 
SNTKX  0.68  0.25  0.27  1.12  0.30 
(0.78)
 1.26 
(0.91)
 8.42 
FIMPX  1.01  0.03  0.03  0.09  1.15 
(1.12)
 1.86 
(1.89)
 6.71 
HYI  0.26 (0.01)(0.17)(0.03) 0.35 
(0.28)
 0.63 
(0.64)
 1.53 

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