Hartford Financial Correlations

HIG Stock

USD 122.66 1.20 0.99%

The correlation of Hartford Financial 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.

Hartford Financial Correlation With Market

Very weak diversification

The correlation between Hartford Financial Services and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hartford Financial Services 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 Hartford Financial Services. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Hartford Stock

0.77	L	Loews Corp	Pair Corr
0.72	CB	Chubb	Pair Corr
0.89	ALL	Allstate	Pair Corr
0.72	BOW	Bowhead Specialty	Pair Corr
0.7	CNA	CNA Financial	Pair Corr
0.93	HCI	HCI Group	Pair Corr
0.8	HMN	Horace Mann Educators	Pair Corr
0.86	PGR	Progressive Corp	Pair Corr
0.79	STC	Stewart Information	Pair Corr
0.93	THG	Hanover Insurance	Pair Corr
0.64	TRV	The Travelers Companies	Pair Corr
0.84	UVE	Universal Insurance Normal Trading	Pair Corr
0.92	WRB	W R Berkley	Pair Corr
0.61	HRTG	Heritage Insurance Hldgs	Pair Corr
0.61	KMPR	Kemper	Pair Corr
0.9	SIGIP	Selective Insurance	Pair Corr
0.72	ALL-PJ	Allstate	Pair Corr
0.88	PLMR	Palomar Holdings Normal Trading	Pair Corr
0.86	ROOT	Root Inc	Pair Corr

Moving against Hartford Stock

0.68	NODK	NI Holdings	Pair Corr
0.35	AFG	American Financial	Pair Corr
0.33	HGTY	Hagerty	Pair Corr
0.86	CNFR	Conifer Holding Earnings Call This Week	Pair Corr
0.57	CG	Carlyle Group Normal Trading	Pair Corr
0.52	BX	Blackstone Group	Pair Corr
0.52	BY	Byline Bancorp	Pair Corr
0.5	WRB-PF	WR Berkley	Pair Corr
0.5	CM	Canadian Imperial Bank	Pair Corr
0.48	BN	Brookfield Corp	Pair Corr
0.47	WRB-PE	W R Berkley	Pair Corr

Related Correlations Analysis

	AXAHY	GSHD	IGIC	ESGR	ACGL	AEG	BRK-B	EQH	AIG	SLF
AXAHY		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	AXAHY
GSHD	0.0		0.69	0.83	-0.11	0.25	0.83	0.57	0.81	-0.61	GSHD
IGIC	0.0	0.69		0.71	-0.27	0.44	0.64	0.72	0.51	-0.49	IGIC
ESGR	0.0	0.83	0.71		-0.26	0.18	0.84	0.57	0.8	-0.76	ESGR
ACGL	0.0	-0.11	-0.27	-0.26		-0.09	0.07	0.05	0.08	0.58	ACGL
AEG	0.0	0.25	0.44	0.18	-0.09		0.11	0.55	0.08	-0.17	AEG
BRK-B	0.0	0.83	0.64	0.84	0.07	0.11		0.45	0.97	-0.5	BRK-B
EQH	0.0	0.57	0.72	0.57	0.05	0.55	0.45		0.32	-0.27	EQH
AIG	0.0	0.81	0.51	0.8	0.08	0.08	0.97	0.32		-0.47	AIG
SLF	0.0	-0.61	-0.49	-0.76	0.58	-0.17	-0.5	-0.27	-0.47		SLF
	AXAHY	GSHD	IGIC	ESGR	ACGL	AEG	BRK-B	EQH	AIG	SLF

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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

AIG	+ 0.97	BRK-B
BRK-B	+ 0.84	ESGR
ESGR	+ 0.83	GSHD
BRK-B	+ 0.83	GSHD
AIG	+ 0.81	GSHD
AIG	+ 0.8	ESGR

High negative correlations

SLF	- 0.76	ESGR
SLF	- 0.61	GSHD
SLF	- 0.5	BRK-B
SLF	- 0.49	IGIC
SLF	- 0.47	AIG
SLF	- 0.27	EQH

Risk-Adjusted Indicators

There is a big difference between Hartford Stock performing well and Hartford Financial Company 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 Financial'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
AXAHY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GSHD	2.22	0.32	0.13	0.24	2.23	(2.49)	4.49	(3.95)	21.17
IGIC	1.69	0.12	0.06	0.12	1.99	(1.73)	2.89	(2.89)	8.27
ESGR	0.14	0.05	0.29	0.59	0.00	(0.18)	0.41	(0.21)	1.38
ACGL	1.10	0.05	0.04	0.07	1.15	(1.21)	2.65	(2.08)	6.24
AEG	1.22	0.23	0.08	0.96	2.51	(1.20)	2.68	(2.57)	12.41
BRK-B	0.86	0.24	0.25	0.37	0.75	(1.01)	2.05	(1.29)	6.90
EQH	1.42	0.21	0.09	0.15	2.01	(1.34)	2.97	(3.67)	9.18
AIG	0.99	0.23	0.19	0.44	0.98	(1.08)	2.47	(1.59)	7.38
SLF	0.88	(0.04)	0.00	(0.07)	0.00	0.00	2.00	(1.59)	8.71

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