The Hartford Correlations

HBLFX Fund

USD 15.19 0.04 0.26%

The current 90-days correlation between Hartford Balanced and The Hartford Dividend is 0.84 (i.e., Very poor diversification). 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 census.

Moving together with The Mutual Fund

0.85	HGXAX	Hartford Global Impact	Pair Corr
0.84	HGXCX	Hartford Global Impact	Pair Corr
0.86	HGXFX	Hartford Global Impact	Pair Corr
0.86	HGXIX	Hartford Global Impact	Pair Corr
0.85	HGXRX	Hartford Global Impact	Pair Corr
0.85	HGXSX	Hartford Global Impact	Pair Corr
0.86	HGXTX	Hartford Global Impact	Pair Corr
0.86	HGXVX	Hartford Global Impact	Pair Corr
0.86	HGXYX	Hartford Global Impact	Pair Corr
0.62	HIACX	Hartford Capital App	Pair Corr
0.62	HIBCX	Hartford Capital App	Pair Corr

Related Correlations Analysis

	IHGIX	ITHAX	HFMCX	ITBAX	IHOAX
IHGIX		0.95	0.91	-0.65	0.1	IHGIX
ITHAX	0.95		0.97	-0.75	-0.09	ITHAX
HFMCX	0.91	0.97		-0.65	-0.06	HFMCX
ITBAX	-0.65	-0.75	-0.65		0.38	ITBAX
IHOAX	0.1	-0.09	-0.06	0.38		IHOAX
	IHGIX	ITHAX	HFMCX	ITBAX	IHOAX

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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	+ 0.97	ITHAX
ITHAX	+ 0.95	IHGIX
HFMCX	+ 0.91	IHGIX
IHOAX	+ 0.38	ITBAX
IHOAX	+ 0.1	IHGIX

High negative correlations

ITBAX	- 0.75	ITHAX
ITBAX	- 0.65	HFMCX
ITBAX	- 0.65	IHGIX
IHOAX	- 0.09	ITHAX
IHOAX	- 0.06	HFMCX

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
IHGIX	0.43	(0.03)	(0.12)	0.08	0.42	(0.46)	1.01	(0.83)	2.61
ITHAX	0.55	0.00	(0.02)	0.12	0.64	(0.57)	1.07	(1.36)	4.13
HFMCX	0.75	0.04	0.04	0.16	0.82	(0.80)	1.71	(1.38)	4.40
ITBAX	0.22	(0.03)	0.00	0.49	0.00	0.00	0.43	(0.55)	1.29
IHOAX	0.69	(0.11)	0.00	(0.06)	0.00	0.00	1.42	(1.21)	4.29

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