The Hartford Correlations

Mutual Funds . USA . 
Fund . The Hartford Midcap
HFMIX Fund  USD 28.37  0.34  1.18%   
The current 90-days correlation between Hartford Midcap and Europacific Growth Fund is 0.43 (i.e., Very weak 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

Weak diversification

The correlation between The Hartford Midcap and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Hartford Midcap 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 Midcap. 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 gross domestic product.

Moving together with The Mutual Fund

  0.66HGXAX Hartford Global ImpactPairCorr
  0.68HGXCX Hartford Global ImpactPairCorr
  0.66HGXFX Hartford Global ImpactPairCorr
  0.66HGXIX Hartford Global ImpactPairCorr
  0.67HGXRX Hartford Global ImpactPairCorr
  0.66HGXSX Hartford Global ImpactPairCorr
  0.66HGXTX Hartford Global ImpactPairCorr
  0.65HGXVX Hartford Global ImpactPairCorr
  0.66HGXYX Hartford Global ImpactPairCorr
  0.71HHMAX The Hartford MunicipalPairCorr
  0.75HHMCX The Hartford MunicipalPairCorr
  0.66HHMFX The Hartford MunicipalPairCorr
  0.68HHMIX The Hartford MunicipalPairCorr
  0.66HHMYX The Hartford MunicipalPairCorr
  0.76HIABX Hartford Total ReturnPairCorr
  0.82HIACX Hartford Capital AppPairCorr
  0.9HIADX Hartford Dividend AndPairCorr
  0.83HIBSX Hartford Stock HlsPairCorr
  0.87HIASX Hartford Small PanyPairCorr
  0.82HIBCX Hartford Capital AppPairCorr
  0.75HIMCX Hartford Midcap HlsPairCorr

Related Correlations Analysis

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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.

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