The Hartford Correlations

HILDX Fund

USD 20.45 0.16 0.79%

The current 90-days correlation between Hartford Interna and The Hartford Growth is 0.41 (i.e., Very weak 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 International 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 The Hartford International 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 International. 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 unemployment.

Moving together with The Mutual Fund

0.77	HHHCX	Hartford Schroders	Pair Corr
0.79	HHHYX	Hartford Schroders	Pair Corr
0.68	HHMAX	The Hartford Municipal	Pair Corr
0.67	HHMCX	The Hartford Municipal	Pair Corr
0.7	HHMIX	The Hartford Municipal	Pair Corr
0.71	HHMYX	The Hartford Municipal	Pair Corr
0.94	HIAOX	Hartford International	Pair Corr
1.0	HILAX	Hartford Interna	Pair Corr
1.0	HILCX	Hartford Interna	Pair Corr
1.0	HILIX	Hartford Interna	Pair Corr
1.0	HILSX	Hartford Interna	Pair Corr
1.0	HILUX	Hartford Interna	Pair Corr
1.0	HILYX	Hartford Interna	Pair Corr
0.94	HIPAX	The Hartford Inflation	Pair Corr
0.94	HIPCX	The Hartford Inflation	Pair Corr
0.94	HIPFX	The Hartford Inflation	Pair Corr
0.94	HIPRX	The Hartford Inflation	Pair Corr
0.94	HIPTX	The Hartford Inflation	Pair Corr

Moving against The Mutual Fund

0.71	HGOFX	Hartford Growth	Pair Corr
0.71	HGOIX	Hartford Growth	Pair Corr
0.71	HGORX	Hartford Growth	Pair Corr
0.71	HGOSX	Hartford Growth	Pair Corr
0.71	HGOTX	Hartford Growth Oppo	Pair Corr
0.71	HGOVX	Hartford Growth	Pair Corr
0.71	HGOYX	Hartford Growth	Pair Corr
0.71	HGOAX	Hartford Growth	Pair Corr
0.71	HGOCX	Hartford Growth	Pair Corr
0.66	HIACX	Hartford Capital App	Pair Corr
0.64	HIASX	Hartford Small Pany	Pair Corr
0.56	HIAGX	Hartford Disciplined	Pair Corr
0.78	HISCX	Hartford Small Cap	Pair Corr
0.63	HMDCX	Hartford Midcap	Pair Corr
0.62	HMDFX	Hartford Midcap	Pair Corr
0.62	HMDYX	Hartford Midcap	Pair Corr
0.61	SCUVX	Hartford Schroders Small	Pair Corr
0.6	SCURX	Hartford Schroders Small	Pair Corr

Related Correlations Analysis

	HGOFX	HGOIX	HGORX	HGOSX	HGOTX	HGOVX	HGOAX	HGOCX	ITTAX
HGOFX		1.0	1.0	1.0	1.0	1.0	1.0	1.0	-0.14	HGOFX
HGOIX	1.0		1.0	1.0	1.0	1.0	1.0	1.0	-0.14	HGOIX
HGORX	1.0	1.0		1.0	1.0	1.0	1.0	1.0	-0.15	HGORX
HGOSX	1.0	1.0	1.0		1.0	1.0	1.0	1.0	-0.14	HGOSX
HGOTX	1.0	1.0	1.0	1.0		1.0	1.0	1.0	-0.14	HGOTX
HGOVX	1.0	1.0	1.0	1.0	1.0		1.0	1.0	-0.14	HGOVX
HGOAX	1.0	1.0	1.0	1.0	1.0	1.0		1.0	-0.14	HGOAX
HGOCX	1.0	1.0	1.0	1.0	1.0	1.0	1.0		-0.15	HGOCX
ITTAX	-0.14	-0.14	-0.15	-0.14	-0.14	-0.14	-0.14	-0.15		ITTAX
	HGOFX	HGOIX	HGORX	HGOSX	HGOTX	HGOVX	HGOAX	HGOCX	ITTAX

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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

HGOIX	+ 1.0	HGOFX
HGORX	+ 1.0	HGOFX
HGOSX	+ 1.0	HGOFX
HGOTX	+ 1.0	HGOFX
HGOVX	+ 1.0	HGOFX
HGOAX	+ 1.0	HGOFX

High negative correlations

ITTAX	- 0.15	HGOCX
ITTAX	- 0.15	HGORX
ITTAX	- 0.14	HGOAX
ITTAX	- 0.14	HGOVX
ITTAX	- 0.14	HGOTX
ITTAX	- 0.14	HGOSX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
HGOFX	1.31	(0.15)	0.00	(0.12)	0.00	0.00	2.06	(3.66)	7.08
HGOIX	1.31	(0.15)	0.00	(0.12)	0.00	0.00	2.07	(3.67)	7.08
HGORX	1.31	(0.16)	0.00	(0.12)	0.00	0.00	2.07	(3.67)	7.09
HGOSX	1.31	(0.15)	0.00	(0.12)	0.00	0.00	2.07	(3.67)	7.10
HGOTX	1.31	(0.15)	0.00	(0.12)	0.00	0.00	2.07	(3.67)	7.08
HGOVX	1.31	(0.15)	0.00	(0.12)	0.00	0.00	2.07	(3.67)	7.08
HGOAX	1.31	(0.15)	0.00	(0.12)	0.00	0.00	2.07	(3.67)	7.09
HGOCX	1.31	(0.16)	0.00	(0.12)	0.00	0.00	2.06	(3.69)	7.08
ITTAX	0.27	0.01	0.02	0.04	0.33	(0.28)	0.52	(0.57)	1.42

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