Harding Loevner Correlations

HLMEX Fund

USD 11.90 0.07 0.59%

The current 90-days correlation between Harding Loevner Inst and Western Asset High is 0.03 (i.e., Significant 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 -0.73 (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 discontinued.

Moving together with Harding Mutual Fund

0.96	HLEZX	Harding Loevner Inst	Pair Corr
0.89	ODVYX	Oppenheimer Developing	Pair Corr

Moving against Harding Mutual Fund

0.98	HLGZX	Harding Loevner Global	Pair Corr
0.95	HLMVX	Harding Loevner Global	Pair Corr
0.92	HLMIX	Harding Loevner Inte	Pair Corr
0.89	HLIZX	Harding Loevner Inte	Pair Corr
0.86	HLMRX	Harding Loevner Inte	Pair Corr
0.86	HLMSX	Harding Loevner Inte	Pair Corr
0.86	HLRZX	Harding Loevner Inte	Pair Corr
0.81	HLIDX	Harding Loevner Inte	Pair Corr
0.67	HLFMX	Harding Loevner Frontier	Pair Corr
0.67	HLFZX	Highland Floating Rate	Pair Corr
0.65	HLFFX	Harding Loevner Frontier	Pair Corr
0.65	HLMOX	Harding Loevner Frontier	Pair Corr
0.64	HLMNX	Harding Loevner Inte	Pair Corr
0.64	NWFFX	New World Fund	Pair Corr
0.62	NEWFX	New World Fund	Pair Corr
0.59	VEMRX	Vanguard Emerging Markets	Pair Corr
0.58	VEMAX	Vanguard Emerging Markets	Pair Corr
0.58	VEIEX	Vanguard Emerging Markets	Pair Corr
0.58	VEMIX	Vanguard Emerging Markets	Pair Corr
0.57	HLMGX	Harding Loevner Global	Pair Corr
0.91	DHTYX	Diamond Hill All	Pair Corr
0.77	FWWNX	American Funds New	Pair Corr
0.77	FNFWX	American Funds New	Pair Corr
0.73	DALVX	Dunham Large Cap	Pair Corr
0.71	AMFAX	Asg Managed Futures	Pair Corr
0.68	VTSNX	Vanguard Total Inter	Pair Corr
0.68	VTPSX	Vanguard Total Inter	Pair Corr
0.67	VTISX	Vanguard Total Inter	Pair Corr
0.67	MRSAX	Mfs Research Interna	Pair Corr
0.67	VGHCX	Vanguard Health Care	Pair Corr
0.66	GHAIX	Global Hard Assets	Pair Corr
0.64	NEWCX	New World Fund	Pair Corr
0.61	VSTSX	Vanguard Total Stock	Pair Corr
0.61	VSMPX	Vanguard Total Stock	Pair Corr
0.61	VITSX	Vanguard Total Stock	Pair Corr
0.61	VTSAX	Vanguard Total Stock	Pair Corr
0.59	VFFSX	Vanguard 500 Index	Pair Corr
0.59	VFIAX	Vanguard 500 Index	Pair Corr

Related Correlations Analysis

	NSCFX	NSCRX	AINTX	FLSPX	FUND	BTMFX	BTEFX	SNTKX	FIMPX	HYI
NSCFX		1.0	0.95	0.97	0.9	0.96	0.82	0.93	0.88	0.79	NSCFX
NSCRX	1.0		0.95	0.97	0.9	0.96	0.82	0.93	0.88	0.79	NSCRX
AINTX	0.95	0.95		0.93	0.88	0.96	0.74	0.95	0.78	0.83	AINTX
FLSPX	0.97	0.97	0.93		0.9	0.93	0.85	0.93	0.84	0.79	FLSPX
FUND	0.9	0.9	0.88	0.9		0.81	0.79	0.94	0.64	0.86	FUND
BTMFX	0.96	0.96	0.96	0.93	0.81		0.74	0.9	0.88	0.73	BTMFX
BTEFX	0.82	0.82	0.74	0.85	0.79	0.74		0.79	0.77	0.76	BTEFX
SNTKX	0.93	0.93	0.95	0.93	0.94	0.9	0.79		0.73	0.9	SNTKX
FIMPX	0.88	0.88	0.78	0.84	0.64	0.88	0.77	0.73		0.56	FIMPX
HYI	0.79	0.79	0.83	0.79	0.86	0.73	0.76	0.9	0.56		HYI
	NSCFX	NSCRX	AINTX	FLSPX	FUND	BTMFX	BTEFX	SNTKX	FIMPX	HYI

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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
NSCFX	1.01	0.22	0.22	0.22	0.77	(1.24)	2.67	(1.75)	10.41
NSCRX	1.02	0.22	0.22	0.22	0.77	(1.24)	2.66	(1.75)	10.64
AINTX	0.89	0.31	0.29	0.86	0.50	(1.09)	1.92	(1.35)	15.77
FLSPX	0.64	0.09	0.11	0.14	0.57	(0.75)	1.29	(1.20)	6.07
FUND	0.79	0.25	0.20	(2.35)	0.73	(0.92)	1.74	(1.57)	3.61
BTMFX	0.76	0.19	0.24	0.36	0.37	(1.03)	1.62	(0.96)	12.36
BTEFX	0.46	(0.01)	(0.03)	0.03	0.56	(0.54)	0.90	(0.99)	3.32
SNTKX	0.77	0.23	0.22	5.97	0.54	(0.88)	1.59	(1.19)	8.95
FIMPX	1.04	0.07	0.06	0.09	1.18	(1.13)	2.33	(2.03)	7.33
HYI	0.25	0.01	(0.06)	0.07	0.27	(0.29)	0.63	(0.55)	1.47

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