Harding Loevner Correlations

Mutual Funds . USA . 
Fund . Harding Loevner Chinese
HLMCX Fund  USD 5.90  0.02  0.34%   
The current 90-days correlation between Harding Loevner Chinese and Harding Loevner Emerging is 0.85 (i.e., Very poor 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

Very weak diversification

The correlation between Harding Loevner Chinese and DJI is 0.48 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Harding Loevner Chinese 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 Chinese. 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 main economic indicators.

Moving together with Harding Mutual Fund

  0.95HLEMX Harding Loevner EmergingPairCorr
  0.95HLEZX Harding Loevner InstPairCorr
  0.93HLGZX Harding Loevner GlobalPairCorr
  0.88HLFFX Harding Loevner FrontierPairCorr
  0.88HLFMX Harding Loevner FrontierPairCorr
  0.88HLFZX Highland Floating RatePairCorr
  0.91HLIZX Harding Loevner IntePairCorr
  0.88HLIDX Harding Loevner IntePairCorr
  0.93HLMVX Harding Loevner GlobalPairCorr
  0.95HLMEX Harding Loevner InstPairCorr
  0.93HLMGX Harding Loevner GlobalPairCorr
  0.91HLMIX Harding Loevner IntePairCorr
  0.91HLMNX Harding Loevner IntePairCorr
  0.88HLMOX Harding Loevner FrontierPairCorr
  0.89HLMRX Harding Loevner IntePairCorr
  0.89HLMSX Harding Loevner IntePairCorr
  0.89HLRZX Harding Loevner IntePairCorr
  0.91HLXCX Harding Loevner FundsPairCorr
  0.92FHKTX Fidelity China Region Steady GrowthPairCorr
  0.92FCHKX Fidelity China Region Steady GrowthPairCorr
  0.92FHKAX Fidelity China Region Steady GrowthPairCorr
  0.92FHKIX Fidelity China Region Steady GrowthPairCorr
  0.92FIQFX Fidelity China Region Steady GrowthPairCorr
  0.92FHKCX Fidelity China Region Steady GrowthPairCorr
  0.91MICFX Matthews China Steady GrowthPairCorr
  0.91MCHFX Matthews China Steady GrowthPairCorr
  0.73FSMMX Fs Multi StrategyPairCorr
  0.89BTMPX Ishares Msci EafePairCorr
  0.89BTMKX Blackrock InternationalPairCorr
  0.89MDIIX Blackrock Intern IndexPairCorr
  0.88RYRLX Russell 2000 2xPairCorr
  0.92NAVFX Sector RotationPairCorr
  0.89CWGIX Capital World GrowthPairCorr
  0.89NRILX Neuberger Berman IntlPairCorr
  0.87SDRAX Swan Defined RiskPairCorr

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  0.50  0.17  0.15  0.50  0.05 
(0.60)
 1.63 
(1.03)
 4.29 
HLEZX  0.51  0.16  0.14  0.50  0.11 
(0.66)
 1.61 
(1.06)
 4.31 
HLGZX  0.56  0.08  0.06  0.24  0.35 
(0.65)
 1.86 
(1.04)
 3.55 
HLFFX  0.43  0.15  0.10  0.67  0.00 
(0.56)
 1.02 
(0.61)
 2.36 
HLFMX  0.43  0.15  0.11  0.65  0.00 
(0.58)
 1.04 
(0.62)
 2.39 
HLFZX  0.43  0.14  0.10  0.65  0.00 
(0.56)
 1.02 
(0.61)
 2.36 
HLIZX  0.52  0.10  0.05  0.38  0.34 
(0.59)
 1.31 
(1.06)
 3.40 
HLIDX  0.57  0.07 (0.01) 0.30  0.54 
(0.66)
 1.36 
(1.02)
 3.59 
HLMVX  0.56  0.08  0.06  0.24  0.34 
(0.65)
 1.89 
(1.02)
 3.56 
HLMCX  0.66  0.13  0.06  0.39  0.49 
(0.82)
 1.95 
(1.43)
 5.19 

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