The Hartford Correlations

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

Poor diversification

The correlation between The Hartford International and DJI is 0.67 (i.e., Poor 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. 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 estimate.

Moving together with The Mutual Fund

  0.88HHHCX Hartford SchrodersPairCorr
  0.88HHHRX Hartford SchrodersPairCorr
  0.7HHHSX Hartford SchrodersPairCorr
  0.89HHHTX Hartford SchrodersPairCorr
  0.89HHHYX Hartford SchrodersPairCorr
  0.72HHMAX The Hartford MunicipalPairCorr
  0.7HHMCX The Hartford MunicipalPairCorr
  0.74HHMYX The Hartford MunicipalPairCorr
  0.7HIABX Hartford Total ReturnPairCorr
  1.0HIAOX Hartford InternationalPairCorr
  0.94HILAX Hartford InternaPairCorr
  0.94HILDX Hartford InternaPairCorr
  0.94HILCX Hartford InternaPairCorr
  0.94HILIX Hartford InternaPairCorr

Moving against The Mutual Fund

  0.46HGOCX Hartford GrowthPairCorr
  0.45HGOFX Hartford GrowthPairCorr
  0.45HGOIX Hartford GrowthPairCorr
  0.45HGORX Hartford GrowthPairCorr
  0.45HGOSX Hartford GrowthPairCorr
  0.45HGOTX Hartford Growth OppoPairCorr
  0.45HGOAX Hartford GrowthPairCorr
  0.42HGOYX Hartford GrowthPairCorr
  0.41HGOVX Hartford GrowthPairCorr
  0.58HISCX Hartford Small CapPairCorr
  0.4HIASX Hartford Small PanyPairCorr
  0.35HIACX Hartford Capital AppPairCorr
  0.35HIBCX Hartford Capital AppPairCorr

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   
IHORXIHOSX
JDEAXFIDGX
JDEAXHDGTX
FIDGXHDGTX
HDGTXIHORX
HDGTXIHOSX
  
High negative correlations   
FIDGXIHOSX
FIDGXIHORX
JDEAXIHORX
JDEAXIHOSX

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.