Harding Loevner Correlations

HLMSX Fund

USD 17.31 0.22 1.29%

The current 90-days correlation between Harding Loevner Inte and Vanguard Health Care is 0.07 (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

Modest diversification

The correlation between Harding Loevner International and DJI is 0.24 (i.e., Modest 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 various price indices.

Moving together with Harding Mutual Fund

0.82	OSMYX	Oppenheimer Intl Small	Pair Corr
0.82	OSCIX	Oppenheimer Intl Small	Pair Corr
0.75	OSMNX	Oppenheimer Intl Small	Pair Corr
0.96	TIDDX	T Rowe Price	Pair Corr
0.74	MIDGX	Mfs International New	Pair Corr
0.75	MIDHX	Mfs International New	Pair Corr
0.75	MIDRX	Mfs International New	Pair Corr
0.66	USA	Liberty All Star	Pair Corr
0.62	KO	Coca Cola Earnings Call This Week	Pair Corr
0.73	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.72	CAT	Caterpillar Earnings Call This Week	Pair Corr
0.79	JNJ	Johnson Johnson	Pair Corr

Moving against Harding Mutual Fund

0.49	BA	Boeing	Pair Corr
0.34	WMT	Walmart Aggressive Push	Pair Corr
0.31	CSCO	Cisco Systems	Pair Corr

Related Correlations Analysis

	VHCIX	ETAHX	SCHLX	XHQHX	BGHDX	XBMZX	RAGHX
VHCIX		0.93	0.99	0.8	0.39	0.9	0.98	VHCIX
ETAHX	0.93		0.93	0.82	0.52	0.96	0.94	ETAHX
SCHLX	0.99	0.93		0.82	0.38	0.9	0.97	SCHLX
XHQHX	0.8	0.82	0.82		0.64	0.79	0.78	XHQHX
BGHDX	0.39	0.52	0.38	0.64		0.49	0.41	BGHDX
XBMZX	0.9	0.96	0.9	0.79	0.49		0.92	XBMZX
RAGHX	0.98	0.94	0.97	0.78	0.41	0.92		RAGHX
	VHCIX	ETAHX	SCHLX	XHQHX	BGHDX	XBMZX	RAGHX

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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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
VHCIX	0.67	(0.05)	(0.03)	1.24	(1.42)	2.98
ETAHX	1.20	(0.08)	(0.05)	2.03	(2.84)	7.26
SCHLX	0.64	(0.05)	(0.07)	1.27	(1.60)	3.10
XHQHX	0.81	(0.06)	0.85	1.44	(2.29)	4.60
BGHDX	0.69	(0.05)	1.53	1.38	(1.69)	8.70
XBMZX	0.70	(0.05)	(0.06)	1.03	(1.44)	6.13
RAGHX	0.70	(0.05)	(0.04)	1.23	(1.55)	3.33

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