The Hartford Correlations

HSCYX Fund

USD 31.53 0.14 0.45%

The current 90-days correlation between Hartford Small and The Hartford Growth is 0.7 (i.e., Poor diversification). The correlation of The Hartford 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.

The Hartford Correlation With Market

Very poor diversification

The correlation between The Hartford Small and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Hartford Small 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 The Hartford Small. 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 manufacturing.

Moving together with The Mutual Fund

0.9	HGOFX	Hartford Growth	Pair Corr
0.9	HGOIX	Hartford Growth	Pair Corr
0.9	HGORX	Hartford Growth	Pair Corr
0.9	HGOSX	Hartford Growth	Pair Corr
0.9	HGOTX	Hartford Growth Oppo	Pair Corr
0.9	HGOVX	Hartford Growth	Pair Corr
0.9	HGOYX	Hartford Growth	Pair Corr
0.9	HGOAX	Hartford Growth	Pair Corr
0.89	HGOCX	Hartford Growth	Pair Corr
0.93	HIACX	Hartford Capital App	Pair Corr
1.0	HIASX	Hartford Small Pany	Pair Corr
1.0	HISCX	Hartford Small Cap	Pair Corr
0.97	HMDFX	Hartford Midcap	Pair Corr
0.94	ITHAX	Hartford Capital	Pair Corr
0.94	ITHIX	Hartford Capital	Pair Corr
0.94	ITHRX	Hartford Capital	Pair Corr
0.94	ITHTX	Hartford Capital	Pair Corr

Moving against The Mutual Fund

0.63	HIAHX	Hartford Healthcare Hls	Pair Corr
0.61	ITBAX	Hartford Total	Pair Corr
0.61	ITBFX	Hartford Total	Pair Corr
0.58	HIABX	Hartford Total Return	Pair Corr
0.58	HLDCX	Hartford Emerging	Pair Corr
0.57	HLDIX	Hartford Emerging	Pair Corr
0.56	HLDAX	Hartford Emerging	Pair Corr
0.56	HLDRX	Hartford Emerging	Pair Corr
0.56	HLDTX	Hartford Emerging	Pair Corr
0.51	HILDX	Hartford Interna	Pair Corr
0.49	HIPAX	The Hartford Inflation	Pair Corr
0.39	HAFRX	Hartford Multi Asset	Pair Corr

Related Correlations Analysis

	HGOFX	HGOIX	HGORX	HGOSX	HGOTX	HGOVX	HGOYX	HGOAX	HGOCX	HGXAX
HGOFX		1.0	1.0	1.0	1.0	1.0	1.0	1.0	1.0	0.42	HGOFX
HGOIX	1.0		1.0	1.0	1.0	1.0	1.0	1.0	1.0	0.42	HGOIX
HGORX	1.0	1.0		1.0	1.0	1.0	1.0	1.0	1.0	0.42	HGORX
HGOSX	1.0	1.0	1.0		1.0	1.0	1.0	1.0	1.0	0.42	HGOSX
HGOTX	1.0	1.0	1.0	1.0		1.0	1.0	1.0	1.0	0.42	HGOTX
HGOVX	1.0	1.0	1.0	1.0	1.0		1.0	1.0	1.0	0.42	HGOVX
HGOYX	1.0	1.0	1.0	1.0	1.0	1.0		1.0	1.0	0.42	HGOYX
HGOAX	1.0	1.0	1.0	1.0	1.0	1.0	1.0		1.0	0.42	HGOAX
HGOCX	1.0	1.0	1.0	1.0	1.0	1.0	1.0	1.0		0.42	HGOCX
HGXAX	0.42	0.42	0.42	0.42	0.42	0.42	0.42	0.42	0.42		HGXAX
	HGOFX	HGOIX	HGORX	HGOSX	HGOTX	HGOVX	HGOYX	HGOAX	HGOCX	HGXAX

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Risk-Adjusted Indicators

There is a big difference between The Mutual Fund performing well and The Hartford 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 The Hartford'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
HGOFX	0.79	0.05	0.03	0.18	1.14	(0.76)	1.70	(2.30)	5.60
HGOIX	0.79	0.05	0.03	0.18	1.14	(0.75)	1.71	(2.30)	5.59
HGORX	0.79	0.04	0.03	0.17	1.15	(0.75)	1.72	(2.31)	5.57
HGOSX	0.80	0.05	0.03	0.17	1.15	(0.75)	1.73	(2.29)	5.59
HGOTX	0.80	0.05	0.03	0.18	1.15	(0.74)	1.71	(2.30)	5.58
HGOVX	0.80	0.05	0.03	0.18	1.15	(0.76)	1.72	(2.31)	5.58
HGOYX	0.80	0.05	0.03	0.18	1.15	(0.74)	1.72	(2.30)	5.58
HGOAX	0.80	0.05	0.03	0.17	1.15	(0.75)	1.72	(2.31)	5.60
HGOCX	0.79	0.04	0.02	0.17	1.15	(0.75)	1.71	(2.32)	5.61
HGXAX	0.58	(0.06)	(0.13)	0.04	0.73	(0.59)	0.94	(1.05)	2.82

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