Hartford Small Correlations

HISCX Fund

USD 25.91 0.14 0.54%

The current 90-days correlation between Hartford Small Cap and The Hartford Growth is 0.88 (i.e., Very poor diversification). The correlation of Hartford Small 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 Small Correlation With Market

Poor diversification

The correlation between Hartford Small Cap and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hartford Small Cap 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 Small Cap. 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 main economic indicators.

Moving together with Hartford Mutual Fund

0.96	HGOFX	Hartford Growth	Pair Corr
0.96	HGOIX	Hartford Growth	Pair Corr
0.96	HGORX	Hartford Growth	Pair Corr
0.96	HGOSX	Hartford Growth	Pair Corr
0.96	HGOTX	Hartford Growth Oppo	Pair Corr
0.96	HGOVX	Hartford Growth	Pair Corr
0.96	HGOYX	Hartford Growth	Pair Corr
0.96	HGOAX	Hartford Growth	Pair Corr
0.96	HGOCX	Hartford Growth	Pair Corr
0.68	HGXAX	Hartford Global Impact	Pair Corr
0.69	HGXCX	Hartford Global Impact	Pair Corr
0.66	HGXFX	Hartford Global Impact	Pair Corr
0.67	HGXIX	Hartford Global Impact	Pair Corr
0.68	HGXRX	Hartford Global Impact	Pair Corr
0.67	HGXSX	Hartford Global Impact	Pair Corr
0.67	HGXTX	Hartford Global Impact	Pair Corr
0.66	HGXVX	Hartford Global Impact	Pair Corr
0.67	HGXYX	Hartford Global Impact	Pair Corr
0.94	HIACX	Hartford Capital App	Pair Corr
0.91	HIAGX	Hartford Disciplined	Pair Corr
0.97	HIASX	Hartford Small Pany	Pair Corr
0.94	HIBCX	Hartford Capital App	Pair Corr
0.96	HIMCX	Hartford Midcap Hls	Pair Corr

Moving against Hartford Mutual Fund

0.76	HIABX	Hartford Total Return	Pair Corr
0.51	HHMFX	The Hartford Municipal	Pair Corr
0.5	HHMYX	The Hartford Municipal	Pair Corr
0.49	HHMIX	The Hartford Municipal	Pair Corr
0.48	HHMAX	The Hartford Municipal	Pair Corr
0.46	HHMCX	The Hartford Municipal	Pair Corr
0.32	HHHFX	Hartford Schroders	Pair Corr
0.32	HHHTX	Hartford Schroders	Pair Corr
0.32	HHHYX	Hartford Schroders	Pair Corr
0.31	HHHSX	Hartford Schroders	Pair Corr
0.78	HILAX	Hartford Interna	Pair Corr
0.78	HILDX	Hartford Interna	Pair Corr
0.78	HILCX	Hartford Interna	Pair Corr
0.78	HILIX	Hartford Interna	Pair Corr
0.78	HILRX	Hartford Interna	Pair Corr
0.78	HILSX	Hartford Interna	Pair Corr

Related Correlations Analysis

	HGOFX	HGOIX	HGORX	HGOSX	HGOTX	HGOVX	HGOBX	ITTSX	ITTRX
HGOFX		1.0	1.0	1.0	1.0	1.0	0.0	-0.12	-0.1	HGOFX
HGOIX	1.0		1.0	1.0	1.0	1.0	0.0	-0.12	-0.1	HGOIX
HGORX	1.0	1.0		1.0	1.0	1.0	0.0	-0.13	-0.11	HGORX
HGOSX	1.0	1.0	1.0		1.0	1.0	0.0	-0.12	-0.1	HGOSX
HGOTX	1.0	1.0	1.0	1.0		1.0	0.0	-0.12	-0.1	HGOTX
HGOVX	1.0	1.0	1.0	1.0	1.0		0.0	-0.12	-0.1	HGOVX
HGOBX	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	HGOBX
ITTSX	-0.12	-0.12	-0.13	-0.12	-0.12	-0.12	0.0		1.0	ITTSX
ITTRX	-0.1	-0.1	-0.11	-0.1	-0.1	-0.1	0.0	1.0		ITTRX
	HGOFX	HGOIX	HGORX	HGOSX	HGOTX	HGOVX	HGOBX	ITTSX	ITTRX

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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
HGORX	+ 1.0	HGOIX

High negative correlations

ITTSX	- 0.13	HGORX
ITTSX	- 0.12	HGOVX
ITTSX	- 0.12	HGOTX
ITTSX	- 0.12	HGOSX
ITTSX	- 0.12	HGOIX
ITTSX	- 0.12	HGOFX

Risk-Adjusted Indicators

There is a big difference between Hartford Mutual Fund performing well and Hartford Small 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 Small'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	1.30	(0.11)	0.00	(0.17)	0.00	0.00	1.99	(3.66)	7.08
HGOIX	1.30	(0.11)	0.00	(0.17)	0.00	0.00	1.99	(3.67)	7.08
HGORX	1.30	(0.11)	0.00	(0.17)	0.00	0.00	1.99	(3.67)	7.09
HGOSX	1.30	(0.11)	0.00	(0.17)	0.00	0.00	1.97	(3.67)	7.10
HGOTX	1.30	(0.11)	0.00	(0.17)	0.00	0.00	1.98	(3.67)	7.08
HGOVX	1.30	(0.11)	0.00	(0.17)	0.00	0.00	1.99	(3.67)	7.08
HGOBX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ITTSX	0.27	0.02	0.18	0.00	0.34	(0.29)	0.51	(0.56)	1.39
ITTRX	0.27	0.02	0.17	0.00	0.34	(0.30)	0.51	(0.56)	1.39

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