The Hartford Correlations

HBLAX Fund

USD 15.18 0.04 0.26%

The current 90-days correlation between Hartford Balanced and The Hartford Balanced is 0.99 (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 Balanced and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Hartford Balanced 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 Balanced. 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 nation.

Moving together with The Mutual Fund

0.86	HGXAX	Hartford Global Impact	Pair Corr
0.85	HGXCX	Hartford Global Impact	Pair Corr
0.87	HGXFX	Hartford Global Impact	Pair Corr
0.87	HGXIX	Hartford Global Impact	Pair Corr
0.86	HGXRX	Hartford Global Impact	Pair Corr
0.86	HGXSX	Hartford Global Impact	Pair Corr
0.87	HGXTX	Hartford Global Impact	Pair Corr
0.87	HGXVX	Hartford Global Impact	Pair Corr
0.86	HGXYX	Hartford Global Impact	Pair Corr
0.61	HHHCX	Hartford Schroders	Pair Corr
0.61	HHHRX	Hartford Schroders	Pair Corr
0.62	HHHSX	Hartford Schroders	Pair Corr
0.62	HHHTX	Hartford Schroders	Pair Corr
0.62	HHHYX	Hartford Schroders	Pair Corr

Related Correlations Analysis

	HBLCX	444859BR2	AQUI	BRRAY	MSTSX	ABHYX	LBHIX	SCAXF	VIASP	AAEVX
HBLCX		-0.37	0.0	-0.44	0.72	0.56	0.76	0.08	-0.13	0.6	HBLCX
444859BR2	-0.37		0.0	0.21	-0.63	-0.02	-0.58	0.24	-0.31	-0.73	444859BR2
AQUI	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	AQUI
BRRAY	-0.44	0.21	0.0		-0.51	-0.43	-0.41	-0.02	0.09	-0.38	BRRAY
MSTSX	0.72	-0.63	0.0	-0.51		0.33	0.69	0.02	-0.12	0.86	MSTSX
ABHYX	0.56	-0.02	0.0	-0.43	0.33		0.56	-0.02	-0.22	0.12	ABHYX
LBHIX	0.76	-0.58	0.0	-0.41	0.69	0.56		-0.21	0.13	0.68	LBHIX
SCAXF	0.08	0.24	0.0	-0.02	0.02	-0.02	-0.21		-0.75	-0.32	SCAXF
VIASP	-0.13	-0.31	0.0	0.09	-0.12	-0.22	0.13	-0.75		0.31	VIASP
AAEVX	0.6	-0.73	0.0	-0.38	0.86	0.12	0.68	-0.32	0.31		AAEVX
	HBLCX	444859BR2	AQUI	BRRAY	MSTSX	ABHYX	LBHIX	SCAXF	VIASP	AAEVX

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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

AAEVX	+ 0.86	MSTSX
LBHIX	+ 0.76	HBLCX
MSTSX	+ 0.72	HBLCX
LBHIX	+ 0.69	MSTSX
AAEVX	+ 0.68	LBHIX
AAEVX	+ 0.6	HBLCX

High negative correlations

VIASP	- 0.75	SCAXF
AAEVX	- 0.73	444859BR2
MSTSX	- 0.63	444859BR2
LBHIX	- 0.58	444859BR2
MSTSX	- 0.51	BRRAY
BRRAY	- 0.44	HBLCX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
HBLCX	0.25	(0.02)	(0.26)	0.04	0.26	(0.27)	0.54	(0.41)	1.62
444859BR2	1.31	(0.03)	0.00	0.36	0.00	0.00	5.93	(4.50)	16.62
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRRAY	1.27	(0.11)	0.00	0.01	0.00	0.00	0.00	(2.98)	34.02
MSTSX	0.49	0.04	(0.11)	(0.30)	0.52	(0.59)	1.21	(1.02)	2.80
ABHYX	0.16	0.00	(0.20)	0.08	0.26	(0.24)	0.34	(0.33)	1.91
LBHIX	0.11	0.01	(0.32)	0.44	0.00	(0.29)	0.24	(0.24)	0.96
SCAXF	0.70	(0.40)	0.00	(1.01)	0.00	0.00	0.00	0.00	23.47
VIASP	0.74	0.11	0.01	(3.65)	1.04	(0.83)	2.28	(1.15)	7.18
AAEVX	0.51	0.06	(0.07)	(0.73)	0.55	(0.61)	1.07	(0.77)	3.24

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