Hartford Healthcare Correlations

HGHTX Fund

USD 42.95 0.31 0.72%

The current 90-days correlation between The Hartford Healthcare and Federated Hermes Conservative is 0.1 (i.e., Average diversification). The correlation of Hartford Healthcare 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 Healthcare Correlation With Market

Weak diversification

The correlation between The Hartford Healthcare and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Hartford Healthcare 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 Healthcare. 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 estimate.

Moving together with Hartford Mutual Fund

0.87	VGHAX	Vanguard Health Care	Pair Corr
0.65	VGHCX	Vanguard Health Care	Pair Corr
0.73	PRHSX	T Rowe Price	Pair Corr
0.73	THISX	T Rowe Price	Pair Corr
0.62	VHCIX	Vanguard Health Care	Pair Corr
0.73	SHISX	Blackrock Health Sciences	Pair Corr
0.99	SHSCX	Blackrock Health Sciences	Pair Corr
0.73	SHSAX	Blackrock Health Sciences	Pair Corr
0.62	SHSSX	Blackrock Health Sciences	Pair Corr
0.68	FSPHX	Health Care Portfolio	Pair Corr

Moving against Hartford Mutual Fund

0.6	ASDIX	Aamhimco Short Duration	Pair Corr
0.45	PDX	Pimco Energy Tactical	Pair Corr
0.39	FOCKX	Fidelity Otc Portfolio	Pair Corr
0.67	NRABX	Neuberger Berman Absolute	Pair Corr
0.64	AMFIX	Aama Income Fund	Pair Corr
0.58	MFHIX	Mesirow Financial High	Pair Corr
0.54	ARAGX	Aristotle Funds Series	Pair Corr
0.53	QREARX	Teachers Insurance And	Pair Corr
0.48	ACFGX	American Century Inv	Pair Corr
0.43	WWWFX	Kinetics Internet	Pair Corr
0.39	LSYFX	Lord Abbett Short	Pair Corr
0.35	SHYIX	Guggenheim High Yield	Pair Corr
0.34	MHHIX	Mainstay High Yield	Pair Corr
0.31	TINIX	Acm Tactical Income	Pair Corr

Related Correlations Analysis

	FHCOX	VYRPX	MBLAX	TLSHX	CAARX	GUDAX
FHCOX		0.05	-0.32	-0.18	-0.21	0.0	FHCOX
VYRPX	0.05		0.83	0.96	0.95	0.0	VYRPX
MBLAX	-0.32	0.83		0.9	0.92	0.0	MBLAX
TLSHX	-0.18	0.96	0.9		0.99	0.0	TLSHX
CAARX	-0.21	0.95	0.92	0.99		0.0	CAARX
GUDAX	0.0	0.0	0.0	0.0	0.0		GUDAX
	FHCOX	VYRPX	MBLAX	TLSHX	CAARX	GUDAX

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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

CAARX	+ 0.99	TLSHX
TLSHX	+ 0.96	VYRPX
CAARX	+ 0.95	VYRPX
CAARX	+ 0.92	MBLAX
TLSHX	+ 0.9	MBLAX
MBLAX	+ 0.83	VYRPX

High negative correlations

MBLAX	- 0.32	FHCOX
CAARX	- 0.21	FHCOX
TLSHX	- 0.18	FHCOX
GUDAX	- 0.0	CAARX
GUDAX	- 0.0	TLSHX
GUDAX	- 0.0	MBLAX

Risk-Adjusted Indicators

There is a big difference between Hartford Mutual Fund performing well and Hartford Healthcare 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 Hartford Healthcare'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
FHCOX	0.04	0.01	6.16	0.10	0.00	0.51
VYRPX	0.18	(0.02)	(0.10)	0.39	(0.39)	1.74
MBLAX	0.23	(0.02)	(0.12)	0.46	(0.31)	1.79
TLSHX	0.26	(0.02)	(0.14)	0.47	(0.54)	1.95
CAARX	0.27	(0.02)	(0.13)	0.45	(0.55)	2.05
GUDAX	0.00	0.00	0.00	0.00	0.00	0.00

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