Harding Loevner Correlations

HLMGX Fund

USD 37.37 0.49 1.29%

The current 90-days correlation between Harding Loevner Global and Rbc Global Opportunities is -0.08 (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 Global and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Harding Loevner Global 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 Global. 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 rate.

Moving together with Harding Mutual Fund

0.79	HLEMX	Harding Loevner Emerging	Pair Corr
0.79	HLEZX	Harding Loevner Inst	Pair Corr
0.84	HLGZX	Harding Loevner Global	Pair Corr
0.78	HLIZX	Harding Loevner Inte	Pair Corr
0.79	HLIDX	Harding Loevner Inte	Pair Corr
0.86	HLMVX	Harding Loevner Global	Pair Corr
0.68	HLMCX	Harding Loevner Chinese	Pair Corr
0.79	HLMEX	Harding Loevner Inst	Pair Corr
0.82	HLMIX	Harding Loevner Inte	Pair Corr
0.84	HLMNX	Harding Loevner Inte	Pair Corr
0.67	HLXCX	Harding Loevner Funds	Pair Corr
0.74	FNFPX	American Funds New	Pair Corr
0.86	FFPNX	American Funds New	Pair Corr
0.82	NPFCX	New Perspective	Pair Corr
0.76	ANWPX	New Perspective	Pair Corr
0.82	NPFFX	New Perspective	Pair Corr
0.74	CNPAX	New Perspective	Pair Corr
0.86	CNPEX	New Perspective	Pair Corr
0.74	CNPFX	New Perspective	Pair Corr
0.74	CNPCX	New Perspective	Pair Corr
0.82	RNPAX	New Perspective	Pair Corr
0.67	PMPIX	Precious Metals Ultr Steady Growth	Pair Corr
0.61	PMPSX	Precious Metals Ultr Steady Growth	Pair Corr
0.68	FGPMX	Franklin Gold And Steady Growth	Pair Corr
0.69	FRGOX	Franklin Gold Precious Steady Growth	Pair Corr
0.75	MIDSX	Midas Fund Midas	Pair Corr
0.63	FIJDX	Gold Portfolio Fidelity Steady Growth	Pair Corr
0.68	FEGOX	First Eagle Gold Steady Growth	Pair Corr
0.75	FNCSX	Franklin Natural Res	Pair Corr
0.78	GYIRX	Goldman Sachs High	Pair Corr
0.95	CLAIX	Calvert Moderate All	Pair Corr
0.84	TECFX	Tax Exempt Fund	Pair Corr
0.71	KCSIX	Kngt Clb Sml	Pair Corr

Moving against Harding Mutual Fund

0.51	HLRZX	Harding Loevner Inte	Pair Corr
0.5	HLMSX	Harding Loevner Inte	Pair Corr
0.42	HLFFX	Harding Loevner Frontier	Pair Corr

Related Correlations Analysis

	RGOIX	ANTUX	SVOAX	SEVIX	SUSYX	SMYIX	BTBFX	AAIPX	AIEAX	AAISX
RGOIX		0.73	-0.06	-0.22	-0.04	0.96	0.83	0.68	0.65	0.68	RGOIX
ANTUX	0.73		0.01	-0.32	0.03	0.74	0.53	0.89	0.87	0.89	ANTUX
SVOAX	-0.06	0.01		0.65	1.0	-0.15	-0.07	0.04	0.04	0.04	SVOAX
SEVIX	-0.22	-0.32	0.65		0.65	-0.31	-0.04	-0.19	-0.2	-0.19	SEVIX
SUSYX	-0.04	0.03	1.0	0.65		-0.13	-0.05	0.05	0.05	0.05	SUSYX
SMYIX	0.96	0.74	-0.15	-0.31	-0.13		0.88	0.69	0.66	0.68	SMYIX
BTBFX	0.83	0.53	-0.07	-0.04	-0.05	0.88		0.51	0.49	0.51	BTBFX
AAIPX	0.68	0.89	0.04	-0.19	0.05	0.69	0.51		1.0	1.0	AAIPX
AIEAX	0.65	0.87	0.04	-0.2	0.05	0.66	0.49	1.0		1.0	AIEAX
AAISX	0.68	0.89	0.04	-0.19	0.05	0.68	0.51	1.0	1.0		AAISX
	RGOIX	ANTUX	SVOAX	SEVIX	SUSYX	SMYIX	BTBFX	AAIPX	AIEAX	AAISX

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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

SUSYX	+ 1.0	SVOAX
AIEAX	+ 1.0	AAIPX
AAISX	+ 1.0	AAIPX
AAISX	+ 1.0	AIEAX
SMYIX	+ 0.96	RGOIX
AAIPX	+ 0.89	ANTUX

High negative correlations

SEVIX	- 0.32	ANTUX
SMYIX	- 0.31	SEVIX
SEVIX	- 0.22	RGOIX
AIEAX	- 0.2	SEVIX
AAISX	- 0.19	SEVIX
AAIPX	- 0.19	SEVIX

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
RGOIX	0.47	(0.03)	(0.06)	0.04	0.67	(0.44)	0.98	(0.86)	3.42
ANTUX	0.51	(0.01)	(0.05)	0.06	0.67	(0.52)	1.04	(1.21)	3.43
SVOAX	0.38	(0.05)	(0.17)	(0.02)	0.45	(0.44)	0.94	(0.79)	2.40
SEVIX	0.35	(0.01)	0.00	0.22	0.00	0.00	0.94	(0.79)	2.47
SUSYX	0.37	(0.05)	(0.17)	(0.01)	0.44	(0.47)	0.94	(0.79)	2.47
SMYIX	0.47	0.01	0.00	0.09	0.58	(0.52)	1.24	(0.79)	3.71
BTBFX	0.31	0.05	(0.07)	(1.20)	0.33	(0.33)	0.73	(0.51)	2.54
AAIPX	0.56	(0.01)	(0.04)	0.06	0.65	(0.57)	1.06	(1.04)	3.64
AIEAX	0.55	0.00	(0.03)	0.08	0.66	(0.57)	1.02	(1.10)	3.61
AAISX	0.55	(0.01)	(0.04)	0.06	0.67	(0.56)	1.07	(1.05)	3.59

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