Hartford Equity Correlations

HQISX Fund

USD 20.29 0.13 0.64%

The current 90-days correlation between Hartford Equity and The Hartford Capital is 0.93 (i.e., Almost no diversification). The correlation of Hartford Equity 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 Equity Correlation With Market

Very weak diversification

The correlation between The Hartford Equity and DJI is 0.55 (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 Equity 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 Equity. 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 state.

Moving together with Hartford Mutual Fund

0.77	HIADX	Hartford Dividend And	Pair Corr
0.68	HIBSX	Hartford Stock Hls	Pair Corr

Moving against Hartford Mutual Fund

0.41	HGOFX	Hartford Growth	Pair Corr
0.41	HGOIX	Hartford Growth	Pair Corr
0.41	HGORX	Hartford Growth	Pair Corr
0.41	HGOSX	Hartford Growth	Pair Corr
0.41	HGOTX	Hartford Growth Oppo	Pair Corr
0.41	HGOVX	Hartford Growth	Pair Corr
0.41	HGOYX	Hartford Growth	Pair Corr
0.41	HGOAX	Hartford Growth	Pair Corr
0.41	HGOCX	Hartford Growth	Pair Corr

Related Correlations Analysis

	ITHAX	HFMCX	ITBAX	ITTAX
ITHAX		0.89	0.07	0.55	ITHAX
HFMCX	0.89		-0.01	0.53	HFMCX
ITBAX	0.07	-0.01		0.77	ITBAX
ITTAX	0.55	0.53	0.77		ITTAX
	ITHAX	HFMCX	ITBAX	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

HFMCX	+ 0.89	ITHAX
ITTAX	+ 0.77	ITBAX
ITTAX	+ 0.55	ITHAX
ITTAX	+ 0.53	HFMCX
ITBAX	+ 0.07	ITHAX

High negative correlations

ITBAX

- 0.01

HFMCX

Risk-Adjusted Indicators

There is a big difference between Hartford Mutual Fund performing well and Hartford Equity 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 Equity'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
ITHAX	0.66	(0.10)	(0.07)	1.01	(1.36)	10.95
HFMCX	0.87	(0.08)	(0.04)	1.71	(1.92)	7.34
ITBAX	0.23	(0.07)	(5.76)	0.43	(0.55)	1.32
ITTAX	0.20	(0.05)	(0.15)	0.41	(0.47)	1.66

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