The Hartford Correlations

Mutual Funds . USA . 
Fund . The Hartford Growth
HGOAX Fund  USD 54.11  0.20  0.37%   
The current 90-days correlation between Hartford Growth and The Hartford Dividend is 0.6 (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 weak diversification

The correlation between The Hartford Growth and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Hartford Growth 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 Growth. 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 nation.

Moving together with The Mutual Fund

  1.0HGOFX Hartford GrowthPairCorr
  1.0HGOIX Hartford GrowthPairCorr
  1.0HGORX Hartford GrowthPairCorr
  1.0HGOSX Hartford GrowthPairCorr
  1.0HGOTX Hartford Growth OppoPairCorr
  1.0HGOVX Hartford GrowthPairCorr
  1.0HGOYX Hartford GrowthPairCorr
  1.0HGOCX Hartford GrowthPairCorr
  0.73HGXAX Hartford Global ImpactPairCorr
  0.75HGXCX Hartford Global ImpactPairCorr
  0.72HGXFX Hartford Global ImpactPairCorr
  0.73HGXIX Hartford Global ImpactPairCorr
  0.74HGXRX Hartford Global ImpactPairCorr
  0.73HGXSX Hartford Global ImpactPairCorr
  0.73HGXTX Hartford Global ImpactPairCorr
  0.72HGXVX Hartford Global ImpactPairCorr
  0.73HGXYX Hartford Global ImpactPairCorr
  0.95HIACX Hartford Capital AppPairCorr
  0.96HIAGX Hartford DisciplinedPairCorr
  0.98HIASX Hartford Small PanyPairCorr
  0.95HIBCX Hartford Capital AppPairCorr
  0.98HIMCX Hartford Midcap HlsPairCorr

Moving against The Mutual Fund

  0.69HIABX Hartford Total ReturnPairCorr
  0.4HHMFX The Hartford MunicipalPairCorr
  0.39HHMYX The Hartford MunicipalPairCorr
  0.38HHMIX The Hartford MunicipalPairCorr
  0.37HHMAX The Hartford MunicipalPairCorr
  0.36HHMCX The Hartford MunicipalPairCorr
  0.7HILAX Hartford InternaPairCorr
  0.7HILDX Hartford InternaPairCorr
  0.7HILCX Hartford InternaPairCorr
  0.7HILIX Hartford InternaPairCorr
  0.7HILRX Hartford InternaPairCorr
  0.7HILSX Hartford InternaPairCorr

Related Correlations Analysis

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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   
HFMCX
+ 0.98
ITHAX
IHOAX
+ 0.81
HQIAX
HQIAX
+ 0.79
IHGIX
ITHAX
+ 0.67
IHGIX
HFMCX
+ 0.64
IHGIX
IHOAX
+ 0.37
IHGIX
  
High negative correlations   
IHOAX
- 0.36
HFMCX
IHOAX
- 0.36
ITHAX

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.

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