Harding Loevner Correlations

Mutual Funds . USA . 
Fund . Harding Loevner Funds
HLXCX Fund   11.88  0.03  0.25%   
The current 90-days correlation between Harding Loevner Funds and Harding Loevner Emerging is 0.93 (i.e., Almost no 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 Funds and DJI is 0.55 (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 Funds 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 Funds. 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

  0.99HLEMX Harding Loevner EmergingPairCorr
  0.99HLEZX Harding Loevner InstPairCorr
  0.98HLGZX Harding Loevner GlobalPairCorr
  0.97HLFFX Harding Loevner FrontierPairCorr
  0.97HLFMX Harding Loevner FrontierPairCorr
  0.97HLFZX Highland Floating RatePairCorr
  0.95HLIZX Harding Loevner IntePairCorr
  0.91HLMCX Harding Loevner ChinesePairCorr
  0.99HLMEX Harding Loevner InstPairCorr
  0.98HLMGX Harding Loevner GlobalPairCorr
  0.95HLMIX Harding Loevner IntePairCorr
  0.95HLMNX Harding Loevner IntePairCorr
  0.97HLMOX Harding Loevner FrontierPairCorr
  0.97HLMRX Harding Loevner IntePairCorr
  0.97HLMSX Harding Loevner IntePairCorr
  0.97HLRZX Harding Loevner IntePairCorr
  0.99VEMAX Vanguard Emerging MarketsPairCorr
  0.99VEIEX Vanguard Emerging MarketsPairCorr
  0.99VEMIX Vanguard Emerging MarketsPairCorr
  0.99VEMRX Vanguard Emerging MarketsPairCorr
  0.99FWWNX American Funds NewPairCorr
  0.99FNFWX American Funds NewPairCorr
  0.99NEWFX New World FundPairCorr
  0.99NWFFX New World FundPairCorr
  0.99NEWCX New World FundPairCorr
  0.99ODVYX Oppenheimer DevelopingPairCorr
  0.61RYMEX Commodities StrategyPairCorr
  0.61RYMJX Commodities StrategyPairCorr
  0.62RYMBX Commodities StrategyPairCorr
  0.88BRUFX Bruce Fund BrucePairCorr
  0.98SPGSX State Street PremierPairCorr
  0.88KF Korea ClosedPairCorr
  0.98VEXMX Vanguard Extended MarketPairCorr
  0.87AVALX Aegis Value FundPairCorr
  0.98VFIAX Vanguard 500 IndexPairCorr
  0.98TGIHX Tiaa Cref GrowthPairCorr
  0.98ARBIX Absolute ConvertiblePairCorr
  0.99LEJKX Blackrock Lifepath EsgPairCorr
  0.98PKAIX Pimco Rae FundamentalPairCorr

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  0.56  0.11 (0.05)(1.32) 0.55 
(0.64)
 1.36 
(1.02)
 3.59 
HLMVX  0.55  0.22  0.14 (17.52) 0.00 
(0.66)
 1.89 
(0.90)
 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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