Hartford Municipal Opportunities Etf Fundamentals
| HMOP Etf | USD 39.24 0.07 0.18% |
Hartford Municipal Opportunities fundamentals help investors to digest information that contributes to Hartford Municipal's financial success or failures. It also enables traders to predict the movement of Hartford Etf. The fundamental analysis module provides a way to measure Hartford Municipal's intrinsic value by examining its available economic and financial indicators, including the cash flow records, the balance sheet account changes, the income statement patterns, and various microeconomic indicators and financial ratios related to Hartford Municipal etf.
Hartford |
Hartford Municipal Opportunities ETF Beta Analysis
Hartford Municipal's Beta is one of the most important measures of equity market volatility. Beta can be thought of as asset elasticity or sensitivity to market. In other words, it is a number that shows the relationship of an equity instrument to the financial market in which this instrument is traded. For example, if Beta of equity is 2, it is expected to significantly outperform market when the market is going up and significantly underperform when the market is going down. Similarly, Beta of 1 indicates that an asset and market will generate similar returns over time.
Current Hartford Municipal Beta | 0.88 |
Most of Hartford Municipal's fundamental indicators, such as Beta, are part of a valuation analysis module that helps investors searching for stocks that are currently trading at higher or lower prices than their real value. If the real value is higher than the market price, Hartford Municipal Opportunities is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.
In a nutshell, Beta is a measure of individual stock risk relative to the overall volatility of the stock market. and is calculated based on very sound finance theory - Capital Assets Pricing Model (CAPM).However, since Beta is calculated based on historical price movements it may not predict how a firm's stock is going to perform in the future.
| Competition |
In accordance with the recently published financial statements, Hartford Municipal Opportunities has a Beta of 0.88. This is much higher than that of the Hartford Mutual Funds family and significantly higher than that of the Muni National Interm category. The beta for all United States etfs is notably lower than that of the firm.
Hartford Beta Peer Comparison
Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses Hartford Municipal's direct or indirect competition against its Beta to detect undervalued stocks with similar characteristics or determine the etfs which would be a good addition to a portfolio. Peer analysis of Hartford Municipal could also be used in its relative valuation, which is a method of valuing Hartford Municipal by comparing valuation metrics of similar companies.Hartford Municipal is currently under evaluation in beta as compared to similar ETFs.
Fund Asset Allocation for Hartford Municipal
The fund invests most of its assets under management in various types of exotic instruments, with the rest of asset invested in bonds.Asset allocation divides Hartford Municipal's investment portfolio among different asset categories to balance risk and reward by investing in a diversified mix of instruments that align with the investor's goals, risk tolerance, and time horizon. Mutual funds, which pool money from multiple investors to buy a diversified portfolio of securities, use asset allocation strategies to manage the risk and return of their portfolios.
Mutual funds allocate their assets by investing in a diversified portfolio of securities, such as stocks, bonds, cryptocurrencies and cash. The specific mix of these securities is determined by the fund's investment objective and strategy. For example, a stock mutual fund may invest primarily in equities, while a bond mutual fund may invest mainly in fixed-income securities. The fund's manager, responsible for making investment decisions, will buy and sell securities in the fund's portfolio as market conditions and the fund's objectives change.
Hartford Municipal returns are very sensitive to returns on the market. As the market goes up or down, Hartford Municipal is expected to follow.
Hartford Fundamentals
| Number Of Employees | 582 | |||
| Beta | 0.88 | |||
| Total Asset | 284.94 M | |||
| One Year Return | 6.40 % | |||
| Three Year Return | 0.40 % | |||
| Five Year Return | 1.70 % | |||
| Net Asset | 284.94 M | |||
| Last Dividend Paid | 0.0576 | |||
| Bond Positions Weight | 2.08 % |
About Hartford Municipal Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Hartford Municipal Opportunities's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Hartford Municipal using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Hartford Municipal Opportunities based on its fundamental data. In general, a quantitative approach, as applied to this etf, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.The fund invests in investment grade and non-investment grade municipal securities that the sub-adviser considers to be attractive from a yield perspective while considering total return. Hartford Municipal is traded on NYSEARCA Exchange in the United States.
Pair Trading with Hartford Municipal
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Hartford Municipal position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Hartford Municipal will appreciate offsetting losses from the drop in the long position's value.Moving together with Hartford Etf
| 0.96 | MUB | iShares National Muni | PairCorr |
| 0.97 | VTEB | Vanguard Tax Exempt | PairCorr |
| 0.97 | FMB | First Trust Managed | PairCorr |
| 0.94 | ITM | VanEck Intermediate Muni | PairCorr |
| 0.97 | MMIT | IQ MacKay Municipal | PairCorr |
Moving against Hartford Etf
The ability to find closely correlated positions to Hartford Municipal could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hartford Municipal when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Hartford Municipal - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Hartford Municipal Opportunities to buy it.
The correlation of Hartford Municipal 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Hartford Municipal moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hartford Municipal moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Hartford Municipal can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Hartford Municipal Piotroski F Score and Hartford Municipal Altman Z Score analysis. You can also try the ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
The market value of Hartford Municipal is measured differently than its book value, which is the value of Hartford that is recorded on the company's balance sheet. Investors also form their own opinion of Hartford Municipal's value that differs from its market value or its book value, called intrinsic value, which is Hartford Municipal's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Hartford Municipal's market value can be influenced by many factors that don't directly affect Hartford Municipal's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Hartford Municipal's value and its price as these two are different measures arrived at by different means. Investors typically determine if Hartford Municipal is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Hartford Municipal's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.