Harding Loevner Correlations

HLMNX Fund

USD 26.76 0.15 0.56%

The current 90-days correlation between Harding Loevner Inte and Nicholas Ii Inc is 0.43 (i.e., Very weak 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 board of governors.

Moving together with Harding Mutual Fund

0.94	HLCTX	Harding Loevner Funds	Pair Corr
0.7	HLEMX	Harding Loevner Emerging	Pair Corr
0.7	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
1.0	HLIZX	Harding Loevner Inte	Pair Corr
0.97	HLIDX	Harding Loevner Inte	Pair Corr
0.7	HLMEX	Harding Loevner Inst	Pair Corr
1.0	HLMIX	Harding Loevner Inte	Pair Corr
0.86	HLMOX	Harding Loevner Frontier	Pair Corr
0.96	HLMRX	Harding Loevner Inte	Pair Corr
0.96	HLMSX	Harding Loevner Inte	Pair Corr
0.96	HLRZX	Harding Loevner Inte	Pair Corr
0.84	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
0.96	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

0.38	ARTMX	Artisan Mid Cap	Pair Corr
0.37	VIPAX	Index Plus Largecap	Pair Corr
0.35	TWQZX	Transamerica Large Cap	Pair Corr
0.33	VFINX	Vanguard 500 Index	Pair Corr

Related Correlations Analysis

	NNTWX	HLEMX	PTSGX	HLMGX	HLMIX
NNTWX		0.17	0.93	0.67	-0.37	NNTWX
HLEMX	0.17		0.13	0.74	0.7	HLEMX
PTSGX	0.93	0.13		0.59	-0.46	PTSGX
HLMGX	0.67	0.74	0.59		0.4	HLMGX
HLMIX	-0.37	0.7	-0.46	0.4		HLMIX
	NNTWX	HLEMX	PTSGX	HLMGX	HLMIX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

PTSGX	+ 0.93	NNTWX
HLMGX	+ 0.74	HLEMX
HLMIX	+ 0.7	HLEMX
HLMGX	+ 0.67	NNTWX
HLMGX	+ 0.59	PTSGX
HLMIX	+ 0.4	HLMGX

High negative correlations

HLMIX	- 0.46	PTSGX
HLMIX	- 0.37	NNTWX

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
NNTWX	0.58	0.00	(0.01)	0.12	0.55	(0.65)	1.43	(1.12)	4.89
HLEMX	0.69	(0.07)	0.00	(0.03)	0.00	0.00	1.39	(1.40)	4.55
PTSGX	0.90	0.08	0.05	0.21	1.10	(0.92)	2.04	(2.12)	5.31
HLMGX	0.60	(0.06)	(0.09)	0.04	0.85	(0.60)	1.24	(1.32)	4.19
HLMIX	0.62	(0.13)	0.00	(0.17)	0.00	0.00	1.30	(1.53)	4.08

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC