Harding Loevner Correlations

Mutual Funds . USA . 
Fund . Harding Loevner International
HLIDX Fund  USD 14.74  0.07  0.48%   
The current 90-days correlation between Harding Loevner Inte and Harding Loevner Emerging is -0.01 (i.e., Good 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

Good diversification

The correlation between Harding Loevner International and DJI is -0.03 (i.e., Good 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 signals in unemployment.

Moving together with Harding Mutual Fund

  0.89HLEZX Harding Loevner InstPairCorr
  0.82HLFFX Harding Loevner FrontierPairCorr
  0.83HLFMX Harding Loevner FrontierPairCorr
  0.82HLFZX Highland Floating RatePairCorr
  0.95HLIZX Harding Loevner IntePairCorr
  0.93HLMVX Harding Loevner GlobalPairCorr
  0.87HLMCX Harding Loevner ChinesePairCorr
  0.9HLMEX Harding Loevner InstPairCorr
  0.93HLMGX Harding Loevner GlobalPairCorr
  0.95HLMNX Harding Loevner IntePairCorr
  0.82HLMOX Harding Loevner FrontierPairCorr
  0.9HLMRX Harding Loevner IntePairCorr
  0.92HLMSX Harding Loevner IntePairCorr
  0.92HLRZX Harding Loevner IntePairCorr
  0.87HLXCX Harding Loevner FundsPairCorr
  0.78SMPIX Semiconductor UltrasectorPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
HLEMX  0.45  0.13  0.03  0.57  0.13 
(0.53)
 0.99 
(0.72)
 4.29 
HLEZX  0.51  0.20  0.08  2.07  0.11 
(0.66)
 1.61 
(1.06)
 4.31 
HLGZX  0.51  0.19  0.01 (1.99) 0.21 
(0.61)
 1.50 
(0.93)
 3.55 
HLFFX  0.43  0.17  0.03  3.16  0.00 
(0.56)
 1.02 
(0.61)
 2.36 
HLFMX  0.43  0.17  0.02  4.50  0.00 
(0.57)
 1.04 
(0.62)
 2.39 
HLFZX  0.43  0.17  0.03  2.30  0.00 
(0.56)
 1.02 
(0.61)
 2.36 
HLIZX  0.52  0.15 (0.02) 2.58  0.34 
(0.59)
 1.31 
(1.06)
 3.40 
HLIDX  0.57  0.12 (0.07)(5.19) 0.54 
(0.65)
 1.36 
(1.02)
 3.59 
HLMVX  0.56  0.18  0.01 (3.61) 0.34 
(0.65)
 1.89 
(1.02)
 3.56 
HLMCX  0.66  0.21  0.04 (4.64) 0.49 
(0.81)
 1.95 
(1.43)
 5.19 

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