Harbor Large Correlations

HILVX Fund

USD 23.37 0.09 0.39%

The current 90-days correlation between Harbor Large Cap and Tax Exempt High Yield is 0.05 (i.e., Significant diversification). The correlation of Harbor Large 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 Large Correlation With Market

Very poor diversification

The correlation between Harbor Large Cap and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Harbor Large Cap 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 Large Cap. 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 Harbor Mutual Fund

0.7	PG	Procter Gamble	Pair Corr
0.72	HD	Home Depot	Pair Corr
0.63	VZ	Verizon Communications	Pair Corr
0.69	BA	Boeing	Pair Corr

Moving against Harbor Mutual Fund

0.52	SMPIX	Semiconductor Ultrasector	Pair Corr
0.51	SMPSX	Semiconductor Ultrasector	Pair Corr
0.51	RSNRX	Victory Global Natural	Pair Corr
0.51	RSNYX	Victory Global Natural	Pair Corr
0.51	RGNCX	Victory Global Natural	Pair Corr
0.33	VFIAX	Vanguard 500 Index	Pair Corr
0.33	VFINX	Vanguard 500 Index	Pair Corr
0.33	VFFSX	Vanguard 500 Index	Pair Corr
0.33	VINIX	Vanguard Institutional	Pair Corr
0.33	VIIIX	Vanguard Institutional	Pair Corr
0.61	JNJ	Johnson Johnson	Pair Corr
0.6	GPICX	Guidepath Conservative	Pair Corr
0.58	INTC	Intel Aggressive Push	Pair Corr
0.55	CSCO	Cisco Systems	Pair Corr
0.55	IBM	International Business	Pair Corr
0.46	GE	GE Aerospace	Pair Corr
0.42	DD	Dupont De Nemours	Pair Corr
0.38	MRK	Merck Company Aggressive Push	Pair Corr
0.35	KO	Coca Cola Aggressive Push	Pair Corr
0.34	AXP	American Express	Pair Corr

Related Correlations Analysis

	RHYTX	CAYCX	JDHYX	VWAHX	IPIMX	HYPPX	AHYMX
RHYTX		1.0	0.77	1.0	0.78	0.71	0.91	RHYTX
CAYCX	1.0		0.77	1.0	0.8	0.71	0.91	CAYCX
JDHYX	0.77	0.77		0.77	0.94	0.91	0.79	JDHYX
VWAHX	1.0	1.0	0.77		0.79	0.72	0.91	VWAHX
IPIMX	0.78	0.8	0.94	0.79		0.92	0.79	IPIMX
HYPPX	0.71	0.71	0.91	0.72	0.92		0.78	HYPPX
AHYMX	0.91	0.91	0.79	0.91	0.79	0.78		AHYMX
	RHYTX	CAYCX	JDHYX	VWAHX	IPIMX	HYPPX	AHYMX

Risk-Adjusted Indicators

There is a big difference between Harbor Mutual Fund performing well and Harbor Large 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 Large'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
RHYTX	0.12	0.06	0.31	2.18	0.00	(0.22)	0.52	(0.10)	0.96
CAYCX	0.14	0.07	0.31	2.49	0.00	(0.23)	0.42	(0.21)	0.96
JDHYX	0.18	0.01	(0.03)	0.07	0.12	(0.24)	0.40	(0.40)	1.08
VWAHX	0.14	0.07	0.34	5.69	0.00	(0.25)	0.48	(0.19)	0.97
IPIMX	0.13	0.01	(0.04)	0.09	0.00	(0.21)	0.45	(0.23)	0.80
HYPPX	0.15	0.01	(0.02)	0.10	0.00	(0.25)	0.48	(0.24)	1.07
AHYMX	0.13	0.03	0.12	17.85	0.00	(0.21)	0.34	(0.11)	0.79

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