Hartford Municipal Correlations

Mutual Funds . USA . 
Fund . The Hartford Municipal
HHMYX Fund  USD 8.30  0.02  0.24%   
The current 90-days correlation between The Hartford Municipal and The Hartford Growth is -0.03 (i.e., Good diversification). 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 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 Municipal Correlation With Market

Good diversification

The correlation between The Hartford Municipal and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Hartford Municipal 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 Municipal. 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 Hartford Mutual Fund

  0.66HGXAX Hartford Global ImpactPairCorr
  0.66HGXCX Hartford Global ImpactPairCorr
  0.66HGXFX Hartford Global ImpactPairCorr
  0.66HGXIX Hartford Global ImpactPairCorr
  0.66HGXRX Hartford Global ImpactPairCorr
  0.66HGXSX Hartford Global ImpactPairCorr
  0.66HGXTX Hartford Global ImpactPairCorr
  0.65HGXVX Hartford Global ImpactPairCorr
  0.66HGXYX Hartford Global ImpactPairCorr
  0.98HHMAX The Hartford MunicipalPairCorr
  0.99HHMCX The Hartford MunicipalPairCorr
  1.0HHMFX The Hartford MunicipalPairCorr
  0.99HHMIX The Hartford MunicipalPairCorr
  0.67HIABX Hartford Total ReturnPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Hartford Mutual Fund performing well and Hartford Municipal 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 Municipal'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
HGOFX  0.78  0.15  0.10  0.19  1.09 
(0.74)
 1.70 
(1.75)
 5.92 
HGOIX  0.78  0.15  0.10  0.19  1.09 
(0.74)
 1.71 
(1.75)
 5.92 
HGORX  0.77  0.14  0.10  0.19  1.09 
(0.74)
 1.72 
(1.74)
 5.92 
HGOSX  0.78  0.15  0.10  0.19  1.09 
(0.74)
 1.73 
(1.75)
 5.90 
HGOTX  0.78  0.15  0.10  0.19  1.09 
(0.72)
 1.71 
(1.75)
 5.92 
HGOVX  0.78  0.15  0.10  0.19  1.09 
(0.74)
 1.72 
(1.75)
 5.92 
HGOYX  0.78  0.15  0.10  0.19  1.09 
(0.72)
 1.72 
(1.75)
 5.91 
HGOAX  0.78  0.15  0.10  0.19  1.10 
(0.74)
 1.72 
(1.74)
 5.91 
HGOCX  0.77  0.14  0.10  0.18  1.10 
(0.74)
 1.71 
(1.76)
 5.93 
HGXAX  0.55 (0.08) 0.00 (0.10) 0.00 
 0.00 
 0.90 
(0.98)
 4.02 

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY