Harbor Small Correlations

HISGX Fund

USD 11.41 0.24 2.15%

The current 90-days correlation between Harbor Small Cap and Summit Global Investments is 0.55 (i.e., Very weak diversification). The correlation of Harbor Small 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.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios. 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

0.77	VSGAX	Vanguard Small Cap	Pair Corr
0.77	VSGIX	Vanguard Small Cap	Pair Corr
0.77	VISGX	Vanguard Small Cap	Pair Corr
0.78	VEXPX	Vanguard Explorer	Pair Corr
0.78	VEXRX	Vanguard Explorer	Pair Corr
0.82	JGMIX	Janus Triton	Pair Corr
0.8	JGMRX	Janus Triton	Pair Corr
0.82	JGMAX	Janus Triton	Pair Corr
0.82	JGMCX	Janus Triton	Pair Corr
0.83	JGMNX	Janus Triton	Pair Corr
0.94	VSTSX	Vanguard Total Stock	Pair Corr
0.94	VSMPX	Vanguard Total Stock	Pair Corr
0.94	VITSX	Vanguard Total Stock	Pair Corr
0.92	VFFSX	Vanguard 500 Index	Pair Corr
0.91	VFIAX	Vanguard 500 Index	Pair Corr
0.86	VTISX	Vanguard Total Inter	Pair Corr
0.86	VTSNX	Vanguard Total Inter	Pair Corr
0.86	VTPSX	Vanguard Total Inter	Pair Corr
0.91	VINIX	Vanguard Institutional	Pair Corr
0.94	VTSAX	Vanguard Total Stock	Pair Corr
0.87	FPXIX	Fidelity Advisor 529	Pair Corr
0.69	GPICX	Guidepath Conservative	Pair Corr
0.69	AA	Alcoa Corp	Pair Corr
0.67	CAT	Caterpillar	Pair Corr
0.77	INTC	Intel Aggressive Push	Pair Corr
0.61	AXP	American Express	Pair Corr

Moving against Harbor Mutual Fund

0.71	VZ	Verizon Communications	Pair Corr
0.66	T	ATT Inc	Pair Corr
0.5	PG	Procter Gamble	Pair Corr
0.38	CVX	Chevron Corp Sell-off Trend	Pair Corr

Related Correlations Analysis

	SGICX	VWAHX	LBAFX	HDCAX	URNQX	EIPFX	TBLDX	GQESX
SGICX		0.63	0.62	0.62	0.6	0.7	0.72	0.72	SGICX
VWAHX	0.63		0.78	0.91	0.81	0.57	0.86	0.88	VWAHX
LBAFX	0.62	0.78		0.75	0.66	0.62	0.67	0.75	LBAFX
HDCAX	0.62	0.91	0.75		0.96	0.56	0.95	0.96	HDCAX
URNQX	0.6	0.81	0.66	0.96		0.46	0.96	0.94	URNQX
EIPFX	0.7	0.57	0.62	0.56	0.46		0.52	0.57	EIPFX
TBLDX	0.72	0.86	0.67	0.95	0.96	0.52		0.97	TBLDX
GQESX	0.72	0.88	0.75	0.96	0.94	0.57	0.97		GQESX
	SGICX	VWAHX	LBAFX	HDCAX	URNQX	EIPFX	TBLDX	GQESX

Risk-Adjusted Indicators

There is a big difference between Harbor Mutual Fund performing well and Harbor Small 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 Small'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
SGICX	0.39	0.02	0.02	0.06	0.48	(0.42)	0.87	(0.92)	2.54
VWAHX	0.14	0.07	0.34	5.69	0.00	(0.25)	0.48	(0.19)	0.97
LBAFX	0.06	0.00	(0.14)	0.22	0.00	(0.16)	0.09	(0.09)	0.54
HDCAX	0.48	0.06	0.08	0.14	0.57	(0.53)	1.01	(0.99)	2.95
URNQX	0.80	0.06	0.05	0.08	1.17	(0.77)	1.82	(2.05)	4.69
EIPFX	0.43	0.04	0.04	0.13	0.50	(0.43)	0.92	(0.75)	2.26
TBLDX	0.27	0.02	0.01	0.06	0.34	(0.29)	0.55	(0.54)	1.73
GQESX	0.56	0.06	0.06	0.09	0.77	(0.54)	1.18	(1.14)	3.44

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Harbor Small Correlations

Moving together with Harbor Mutual Fund

Moving against Harbor Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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