| HFDCX Fund | | | USD 18.75 0.03 0.16% |
The current 90-days correlation between Hartford Schroders and Hartford Schroders Smallmid is 1.0 (i.e., No risk reduction). The correlation of Hartford Schroders 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.
Hartford Schroders Correlation With Market
Very weak diversification
The correlation between Hartford Schroders Smallmid and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hartford Schroders Smallmid 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 Hartford Schroders Smallmid. 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.