The Hartford Correlations

Mutual Funds . USA . 
Fund . The Hartford International
HILDX Fund  USD 19.23  0.06  0.31%   
The current 90-days correlation between Hartford Interna and The Hartford International is 1.0 (i.e., No risk reduction). 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 0.46 (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

  0.63HGXAX Hartford Global ImpactPairCorr
  0.61HGXCX Hartford Global ImpactPairCorr
  0.65HGXFX Hartford Global ImpactPairCorr
  0.63HGXRX Hartford Global ImpactPairCorr
  0.64HGXSX Hartford Global ImpactPairCorr
  0.64HGXTX Hartford Global ImpactPairCorr
  0.65HGXVX Hartford Global ImpactPairCorr
  0.64HGXYX Hartford Global ImpactPairCorr
  0.78HHHCX Hartford SchrodersPairCorr
  0.8HHHFX Hartford SchrodersPairCorr
  0.79HHHRX Hartford SchrodersPairCorr
  0.79HHHSX Hartford SchrodersPairCorr
  0.75HHHTX Hartford SchrodersPairCorr
  0.8HHHYX Hartford SchrodersPairCorr
  0.64HHMAX The Hartford MunicipalPairCorr
  0.69HHMFX The Hartford MunicipalPairCorr
  0.68HHMIX The Hartford MunicipalPairCorr
  0.69HIABX Hartford Total ReturnPairCorr
  0.97HIAOX Hartford InternationalPairCorr
  1.0HILAX 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   
HILIX
+ 1.0
HILSX
CBECX
+ 1.0
CBLLX
CBLLX
+ 0.93
OLVCX
CBECX
+ 0.93
OLVCX
OLVCX
+ 0.04
HILSX
OLVCX
+ 0.03
HILIX
  
High negative correlations   
CBECX
- 0.08
HILIX
CBECX
- 0.08
HILSX
CBLLX
- 0.07
HILIX
CBLLX
- 0.07
HILSX

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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