Harbor Diversified Correlations

HNIDX Fund

USD 12.80 0.06 0.47%

The current 90-days correlation between Harbor Diversified and Vanguard Financials Index is 0.22 (i.e., Modest diversification). The correlation of Harbor Diversified 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.

Harbor Diversified Correlation With Market

Very weak diversification

The correlation between Harbor Diversified Internation and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Harbor Diversified Internation 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 Harbor Diversified 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 unemployment.

Moving together with Harbor Mutual Fund

0.88	HIINX	Harbor International	Pair Corr
0.83	HIISX	Harbor International	Pair Corr
0.84	HNISX	Harbor International	Pair Corr
1.0	HRIDX	Harbor Diversified	Pair Corr
0.95	HRINX	Harbor International	Pair Corr
0.96	HAINX	Harbor International	Pair Corr
0.84	HAISX	Harbor International	Pair Corr
1.0	HAIDX	Harbor Diversified	Pair Corr
0.94	HAONX	Harbor Overseas	Pair Corr

Moving against Harbor Mutual Fund

0.42	HICSX	Harbor Vertible Secu	Pair Corr
0.41	HNCVX	Harbor Vertible Secu	Pair Corr
0.39	HIIGX	Harbor International	Pair Corr
0.42	HACSX	Harbor Vertible Secu	Pair Corr
0.39	HAIGX	Harbor International	Pair Corr
0.38	HRIGX	Harbor International	Pair Corr

Related Correlations Analysis

	VFAIX	RPFGX	GCFSX	BTO	ICFAX	MSVIX
VFAIX		0.99	0.97	0.98	0.91	0.79	VFAIX
RPFGX	0.99		0.98	0.97	0.92	0.82	RPFGX
GCFSX	0.97	0.98		0.93	0.92	0.87	GCFSX
BTO	0.98	0.97	0.93		0.89	0.79	BTO
ICFAX	0.91	0.92	0.92	0.89		0.88	ICFAX
MSVIX	0.79	0.82	0.87	0.79	0.88		MSVIX
	VFAIX	RPFGX	GCFSX	BTO	ICFAX	MSVIX

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Risk-Adjusted Indicators

There is a big difference between Harbor Mutual Fund performing well and Harbor Diversified 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 Harbor Diversified'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
VFAIX	0.78	0.08	0.14	0.18	0.52	(0.92)	1.77	(1.22)	8.51
RPFGX	0.80	0.05	0.11	0.16	0.51	(0.97)	1.85	(1.40)	7.59
GCFSX	0.66	0.03	0.03	0.14	0.50	(0.87)	1.52	(1.41)	4.94
BTO	0.93	0.13	0.17	0.21	0.74	(1.03)	1.88	(1.32)	9.88
ICFAX	0.72	(0.01)	0.00	0.11	0.75	(0.87)	1.43	(1.21)	5.10
MSVIX	0.79	(0.07)	(0.04)	0.06	0.84	(0.91)	1.78	(1.41)	5.71

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