Hartford Healthcare Correlations

HBGHX Fund

USD 14.81 0.30 2.07%

The current 90-days correlation between Hartford Healthcare Hls and The Hartford Growth is 0.53 (i.e., Very weak diversification). The correlation of Hartford Healthcare 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 Healthcare Correlation With Market

Modest diversification

The correlation between Hartford Healthcare Hls and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hartford Healthcare Hls 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 Healthcare Hls. 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 rate.

Moving together with Hartford Mutual Fund

0.61	HGXAX	Hartford Global Impact	Pair Corr
0.62	HGXRX	Hartford Global Impact	Pair Corr
0.86	HHHCX	Hartford Schroders	Pair Corr
0.86	HHHFX	Hartford Schroders	Pair Corr
0.86	HHHSX	Hartford Schroders	Pair Corr
0.86	HHHTX	Hartford Schroders	Pair Corr
0.64	HIABX	Hartford Total Return	Pair Corr
1.0	HIAHX	Hartford Healthcare Hls	Pair Corr
0.91	HILAX	Hartford Interna	Pair Corr
0.91	HILDX	Hartford Interna	Pair Corr
0.91	HILUX	Hartford International	Pair Corr
0.82	HIPIX	The Hartford Inflation	Pair Corr
0.85	HIPRX	The Hartford Inflation	Pair Corr
0.77	SCVEX	Hartford Schroders	Pair Corr
0.86	SEMTX	Hartford Schroders	Pair Corr
0.86	SEMNX	Hartford Schroders	Pair Corr
0.89	HLDAX	Hartford Emerging	Pair Corr
0.86	SEMVX	Hartford Schroders	Pair Corr
0.9	HLDCX	Hartford Emerging	Pair Corr
0.9	HLDIX	Hartford Emerging	Pair Corr

Moving against Hartford Mutual Fund

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

Related Correlations Analysis

	HGOFX	HGOIX	HGORX	HGOSX	HGOTX	HGOVX	HGOYX	HGOAX	HGOCX	HGXAX
HGOFX		1.0	1.0	1.0	1.0	1.0	1.0	1.0	1.0	-0.02	HGOFX
HGOIX	1.0		1.0	1.0	1.0	1.0	1.0	1.0	1.0	-0.02	HGOIX
HGORX	1.0	1.0		1.0	1.0	1.0	1.0	1.0	1.0	-0.02	HGORX
HGOSX	1.0	1.0	1.0		1.0	1.0	1.0	1.0	1.0	-0.02	HGOSX
HGOTX	1.0	1.0	1.0	1.0		1.0	1.0	1.0	1.0	-0.02	HGOTX
HGOVX	1.0	1.0	1.0	1.0	1.0		1.0	1.0	1.0	-0.02	HGOVX
HGOYX	1.0	1.0	1.0	1.0	1.0	1.0		1.0	1.0	-0.02	HGOYX
HGOAX	1.0	1.0	1.0	1.0	1.0	1.0	1.0		1.0	-0.02	HGOAX
HGOCX	1.0	1.0	1.0	1.0	1.0	1.0	1.0	1.0		-0.01	HGOCX
HGXAX	-0.02	-0.02	-0.02	-0.02	-0.02	-0.02	-0.02	-0.02	-0.01		HGXAX
	HGOFX	HGOIX	HGORX	HGOSX	HGOTX	HGOVX	HGOYX	HGOAX	HGOCX	HGXAX

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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
HGOYX	+ 1.0	HGOFX

High negative correlations

HGXAX	- 0.02	HGOAX
HGXAX	- 0.02	HGOYX
HGXAX	- 0.02	HGOVX
HGXAX	- 0.02	HGOTX
HGXAX	- 0.02	HGOSX
HGXAX	- 0.02	HGORX

Risk-Adjusted Indicators

There is a big difference between Hartford Mutual Fund performing well and Hartford Healthcare 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 Healthcare'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	0.89	0.09	0.06	0.28	1.21	(0.86)	1.92	(1.93)	5.92
HGOIX	0.89	0.09	0.06	0.27	1.21	(0.86)	1.91	(1.94)	5.92
HGORX	0.89	0.09	0.05	0.27	1.21	(0.86)	1.92	(1.93)	5.92
HGOSX	0.89	0.09	0.06	0.27	1.23	(0.86)	1.93	(1.94)	5.90
HGOTX	0.89	0.09	0.06	0.28	1.21	(0.84)	1.93	(1.94)	5.92
HGOVX	0.89	0.09	0.06	0.28	1.21	(0.86)	1.92	(1.92)	5.92
HGOYX	0.89	0.09	0.06	0.28	1.21	(0.84)	1.93	(1.93)	5.91
HGOAX	0.89	0.09	0.06	0.27	1.21	(0.86)	1.93	(1.95)	5.91
HGOCX	0.89	0.09	0.05	0.26	1.22	(0.85)	1.92	(1.93)	5.93
HGXAX	0.55	(0.03)	0.00	(0.06)	0.00	0.00	0.96	(1.06)	3.92

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