Hartford Municipal Short Fund Market Value
| HMJFX Fund | USD 9.86 0.01 0.10% |
| Symbol | Hartford |
Hartford Municipal 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Hartford Municipal's mutual fund what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Hartford Municipal.
| 11/05/2024 |
| 01/04/2025 |
If you would invest 0.00 in Hartford Municipal on November 5, 2024 and sell it all today you would earn a total of 0.00 from holding Hartford Municipal Short or generate 0.0% return on investment in Hartford Municipal over 60 days. Hartford Municipal is related to or competes with Allianzgi Health, Baron Health, Health Biotchnology, Delaware Healthcare, Deutsche Health, Live Oak, and Prudential Health. Normally, the fund will invest at least 80 percent of its net assets in municipal securities that pay interest exempt fr... More
Hartford Municipal Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Hartford Municipal's mutual fund current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Hartford Municipal Short upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.28) | |||
| Maximum Drawdown | 0.6077 | |||
| Value At Risk | (0.30) | |||
| Potential Upside | 0.1015 |
Hartford Municipal Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hartford Municipal's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hartford Municipal's standard deviation. In reality, there are many statistical measures that can use Hartford Municipal historical prices to predict the future Hartford Municipal's volatility.| Risk Adjusted Performance | (0.13) | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.02) | |||
| Treynor Ratio | (1.09) |
Hartford Municipal Short Backtested Returns
Hartford Municipal Short holds Efficiency (Sharpe) Ratio of -0.0843, which attests that the entity had a -0.0843% return per unit of risk over the last 3 months. Hartford Municipal Short exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Hartford Municipal's Standard Deviation of 0.1164, market risk adjusted performance of (1.08), and Risk Adjusted Performance of (0.13) to validate the risk estimate we provide. The fund retains a Market Volatility (i.e., Beta) of 0.019, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Hartford Municipal's returns are expected to increase less than the market. However, during the bear market, the loss of holding Hartford Municipal is expected to be smaller as well.
Auto-correlation | -0.78 |
Almost perfect reverse predictability
Hartford Municipal Short has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Hartford Municipal time series from 5th of November 2024 to 5th of December 2024 and 5th of December 2024 to 4th of January 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Hartford Municipal Short price movement. The serial correlation of -0.78 indicates that around 78.0% of current Hartford Municipal price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.78 | |
| Spearman Rank Test | -0.86 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Hartford Municipal Short lagged returns against current returns
Autocorrelation, which is Hartford Municipal mutual fund's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Hartford Municipal's mutual fund expected returns. We can calculate the autocorrelation of Hartford Municipal returns to help us make a trade decision. For example, suppose you find that Hartford Municipal has exhibited high autocorrelation historically, and you observe that the mutual fund is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Hartford Municipal regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Hartford Municipal mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hartford Municipal mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hartford Municipal mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Hartford Municipal Lagged Returns
When evaluating Hartford Municipal's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hartford Municipal mutual fund have on its future price. Hartford Municipal autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Hartford Municipal autocorrelation shows the relationship between Hartford Municipal mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Hartford Municipal Short.
Regressed Prices |
| Timeline |
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Other Information on Investing in Hartford Mutual Fund
Hartford Municipal financial ratios help investors to determine whether Hartford Mutual Fund is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Hartford with respect to the benefits of owning Hartford Municipal security.
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