Harbor Large Correlations

HNLVX Fund

USD 22.78 0.01 0.04%

The current 90-days correlation between Harbor Large Cap and Harbor Small Cap is 0.83 (i.e., Very poor 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

Almost no diversification

The correlation between Harbor Large Cap and DJI is 0.9 (i.e., Almost no 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 signals in real.

Moving together with Harbor Mutual Fund

0.97	HICSX	Harbor Vertible Secu	Pair Corr
0.98	HIIDX	Harbor Diversified	Pair Corr
0.96	HIINX	Harbor International	Pair Corr
0.96	HIISX	Harbor International	Pair Corr
0.99	HIMVX	Harbor Mid Cap	Pair Corr
1.0	HILVX	Harbor Large Cap	Pair Corr
0.99	HISVX	Harbor Small Cap	Pair Corr
0.98	HISGX	Harbor Small Cap	Pair Corr
0.99	HMCLX	Harbor Mid Cap	Pair Corr
0.99	HMCNX	Harbor Mid Cap	Pair Corr
0.99	HMCRX	Harbor Mid Cap	Pair Corr
0.98	HNACX	Harbor Capital Appre	Pair Corr
0.97	HNCVX	Harbor Vertible Secu	Pair Corr
0.99	ESCWX	Embark Small Cap	Pair Corr
0.99	ESCQX	Embark Small Cap	Pair Corr
0.96	HNINX	Harbor International	Pair Corr
0.96	HNISX	Harbor International	Pair Corr
0.94	HNICX	Harbor International	Pair Corr
0.97	HNIDX	Harbor Diversified	Pair Corr
0.99	HNMVX	Harbor Mid Cap	Pair Corr
0.98	HNSGX	Harbor Small Cap	Pair Corr
0.99	HNVRX	Harbor Small Cap	Pair Corr
0.98	HRCAX	Harbor Capital Appre	Pair Corr
0.67	HRBDX	Harbor Bond Fund	Pair Corr
0.97	HRCSX	Harbor Vertible Secu	Pair Corr
0.96	HRINX	Harbor International	Pair Corr
0.96	HRISX	Harbor International	Pair Corr
0.99	HRMVX	Harbor Mid Cap	Pair Corr
0.98	HRSGX	Harbor Small Cap	Pair Corr
0.98	HACAX	Harbor Capital Appre	Pair Corr
0.62	HACBX	Harbor Core Bond	Pair Corr
0.97	HACSX	Harbor Vertible Secu	Pair Corr
0.69	HABDX	Harbor Bond Fund	Pair Corr
0.96	HAINX	Harbor International	Pair Corr
0.96	HAISX	Harbor International	Pair Corr
0.97	HAIDX	Harbor Diversified	Pair Corr
0.99	HAMVX	Harbor Mid Cap	Pair Corr

Related Correlations Analysis

	HASGX	HAMVX	HASCX	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3	SITKF
HASGX		0.96	0.96	0.99	0.98	0.97	0.99	0.0	-0.11	-0.1	HASGX
HAMVX	0.96		0.99	0.98	0.95	0.96	0.97	0.0	-0.19	-0.26	HAMVX
HASCX	0.96	0.99		0.98	0.96	0.95	0.97	0.0	-0.1	-0.16	HASCX
MSTSX	0.99	0.98	0.98		0.99	0.98	1.0	0.0	-0.11	-0.16	MSTSX
LBHIX	0.98	0.95	0.96	0.99		0.97	0.99	0.0	-0.06	-0.09	LBHIX
VIASP	0.97	0.96	0.95	0.98	0.97		0.98	0.0	-0.15	-0.19	VIASP
RRTLX	0.99	0.97	0.97	1.0	0.99	0.98		0.0	-0.1	-0.13	RRTLX
OSHDF	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	OSHDF
70082LAB3	-0.11	-0.19	-0.1	-0.11	-0.06	-0.15	-0.1	0.0		0.75	70082LAB3
SITKF	-0.1	-0.26	-0.16	-0.16	-0.09	-0.19	-0.13	0.0	0.75		SITKF
	HASGX	HAMVX	HASCX	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3	SITKF

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

RRTLX	+ 1.0	MSTSX
MSTSX	+ 0.99	HASGX
RRTLX	+ 0.99	HASGX
HASCX	+ 0.99	HAMVX
LBHIX	+ 0.99	MSTSX
RRTLX	+ 0.99	LBHIX

High negative correlations

SITKF	- 0.26	HAMVX
SITKF	- 0.19	VIASP
70082LAB3	- 0.19	HAMVX
SITKF	- 0.16	MSTSX
SITKF	- 0.16	HASCX
70082LAB3	- 0.15	VIASP

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
HASGX	0.88	0.13	0.13	0.27	0.72	(1.06)	2.32	(1.46)	6.02
HAMVX	0.76	0.07	0.07	0.21	0.71	(0.84)	1.97	(1.27)	5.81
HASCX	0.91	0.10	0.10	0.24	0.77	(1.08)	2.09	(1.78)	6.23
MSTSX	0.49	0.10	0.07	0.28	0.32	(0.57)	1.45	(1.17)	3.51
LBHIX	0.18	0.05	(0.20)	0.44	0.00	(0.33)	0.49	(0.24)	1.22
VIASP	0.45	0.15	0.09	1.19	0.00	(0.58)	1.01	(0.76)	4.38
RRTLX	0.23	0.04	(0.11)	0.28	0.00	(0.30)	0.73	(0.39)	1.74
OSHDF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
70082LAB3	1.56	0.02	0.00	0.11	0.00	0.00	2.55	(4.54)	20.47
SITKF	2.99	0.28	0.01	(0.17)	3.63	(4.66)	6.25	(6.98)	23.19

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