The Hartford Correlations

Mutual Funds . USA . 
Fund . The Hartford Growth
HGOAX Fund  USD 58.06  0.13  0.22%   
The current 90-days correlation between Hartford Growth and The Hartford Dividend is -0.09 (i.e., Good 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

Good diversification

The correlation between The Hartford Growth and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Hartford Growth 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 Growth. 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

  1.0HGOFX Hartford GrowthPairCorr
  1.0HGOIX Hartford GrowthPairCorr
  1.0HGORX Hartford GrowthPairCorr
  1.0HGOSX Hartford GrowthPairCorr
  0.96HGOTX Hartford Growth OppoPairCorr
  1.0HGOVX Hartford GrowthPairCorr
  1.0HGOYX Hartford GrowthPairCorr
  1.0HGOCX Hartford GrowthPairCorr
  0.98HIACX Hartford Capital AppPairCorr
  0.7HIADX Hartford Dividend AndPairCorr
  0.92HIAGX Hartford DisciplinedPairCorr
  0.83HIASX Hartford Small PanyPairCorr
  0.94HIBCX Hartford Capital AppPairCorr
  0.9HIMCX Hartford Midcap HlsPairCorr

Moving against The Mutual Fund

  0.8HIABX Hartford Total ReturnPairCorr
  0.4HHMCX The Hartford MunicipalPairCorr
  0.72HIAHX Hartford Healthcare HlsPairCorr
  0.55HIPCX The Hartford InflationPairCorr
  0.51HIPAX The Hartford InflationPairCorr
  0.47HILCX Hartford InternaPairCorr
  0.46HILRX Hartford InternaPairCorr
  0.45HILAX Hartford InternaPairCorr

Related Correlations Analysis

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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
+ 0.94
IHGIX
HFMCX
+ 0.92
IHGIX
HQIAX
+ 0.91
IHGIX
HQIAX
+ 0.9
ITHAX
HFMCX
+ 0.86
HQIAX
  
High negative correlations   
IHOAX
- 0.01
ITHAX

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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