Harding Loevner Correlations

HLMVX Fund

USD 35.27 0.18 0.51%

The current 90-days correlation between Harding Loevner Global and Harding Loevner Global is 1.0 (i.e., No risk reduction). 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

Average diversification

The correlation between Harding Loevner Global and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Harding Loevner Global 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 Global. 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

0.85	FNFPX	American Funds New	Pair Corr
0.85	FFPNX	American Funds New	Pair Corr
0.88	NPFCX	New Perspective	Pair Corr
0.85	ANWPX	New Perspective	Pair Corr
0.85	NPFFX	New Perspective	Pair Corr
0.86	CNPAX	New Perspective	Pair Corr
0.86	CNPEX	New Perspective	Pair Corr
0.85	CNPFX	New Perspective	Pair Corr
0.88	CNPCX	New Perspective	Pair Corr
0.88	RNPAX	New Perspective	Pair Corr
0.78	LIIAX	Columbia Porate Income	Pair Corr
0.76	SRINX	Columbia Porate Income	Pair Corr
0.87	WRHIX	Ivy High Income	Pair Corr
0.83	WHIAX	Ivy High Income	Pair Corr
0.84	IHIFX	Ivy High Income	Pair Corr
0.84	IVHIX	Ivy High Income	Pair Corr
0.72	HPQ	HP Inc	Pair Corr
0.63	INTC	Intel	Pair Corr
0.67	XOM	Exxon Mobil Corp Earnings Call Today	Pair Corr
0.71	VZ	Verizon Communications	Pair Corr
0.78	DD	Dupont De Nemours Earnings Call This Week	Pair Corr

Moving against Harding Mutual Fund

0.66

Boeing

Pair Corr

Related Correlations Analysis

	HLMGX	HLMIX	AWEIX	DGLRX	MRLSX
HLMGX		0.94	0.92	0.86	0.87	HLMGX
HLMIX	0.94		0.89	0.89	0.87	HLMIX
AWEIX	0.92	0.89		0.86	0.89	AWEIX
DGLRX	0.86	0.89	0.86		0.93	DGLRX
MRLSX	0.87	0.87	0.89	0.93		MRLSX
	HLMGX	HLMIX	AWEIX	DGLRX	MRLSX

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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
HLMGX	1.10	(0.36)	(0.61)	1.20	(1.33)	25.16
HLMIX	0.67	(0.12)	(0.43)	0.95	(1.46)	7.10
AWEIX	0.64	(0.06)	(0.03)	1.05	(1.54)	7.13
DGLRX	0.68	(0.14)	(0.13)	1.31	(1.15)	9.89
MRLSX	0.98	(0.09)	(0.02)	1.49	(1.81)	12.58

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