Harding Loevner Correlations

Mutual Funds . USA . 
Fund . Harding Loevner Institutional
HLMEX Fund  USD 19.31  0.04  0.21%   
The current 90-days correlation between Harding Loevner Inst and Harding Loevner International is 0.81 (i.e., Very poor 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

Weak diversification

The correlation between Harding Loevner Institutional and DJI is 0.38 (i.e., Weak diversification) 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 income.

Moving together with Harding Mutual Fund

  0.7HLCTX Harding Loevner FundsPairCorr
  1.0HLEMX Harding Loevner EmergingPairCorr
  1.0HLEZX Harding Loevner InstPairCorr
  0.73HLGZX Harding Loevner GlobalPairCorr
  0.71HLIZX Harding Loevner IntePairCorr
  0.73HLMVX Harding Loevner GlobalPairCorr
  0.8HLMCX Harding Loevner ChinesePairCorr
  0.74HLMGX Harding Loevner GlobalPairCorr
  0.71HLMIX Harding Loevner IntePairCorr
  0.7HLMNX Harding Loevner IntePairCorr
  0.97VEMAX Vanguard Emerging MarketsPairCorr
  0.97VEIEX Vanguard Emerging MarketsPairCorr
  0.97VEMIX Vanguard Emerging MarketsPairCorr
  0.97VEMRX Vanguard Emerging MarketsPairCorr
  0.93FWWNX American Funds NewPairCorr
  0.93FNFWX American Funds NewPairCorr
  0.95NEWFX New World FundPairCorr
  0.95NWFFX New World FundPairCorr
  0.95NEWCX New World FundPairCorr
  0.94ODVYX Oppenheimer DevelopingPairCorr
  0.65FTYPX Fidelity Freedom IndexPairCorr
  0.69FFBTX Fidelity Freedom BlendPairCorr

Related Correlations Analysis

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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   
TEGYX
+ 0.98
JVLIX
MISIX
+ 0.95
HLMIX
CEMIX
+ 0.68
HLMIX
CEMIX
+ 0.53
MISIX
CEMIX
+ 0.26
JVLIX
TEGYX
+ 0.16
CEMIX
  
High negative correlations   
TEGYX
- 0.51
MISIX
TEGYX
- 0.49
HLMIX
JVLIX
- 0.44
MISIX
JVLIX
- 0.39
HLMIX

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.

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