The Hartford Correlations

HGOYX Fund

USD 73.66 0.44 0.60%

The current 90-days correlation between Hartford Growth and Europacific Growth Fund is 0.68 (i.e., 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

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 manufacturing.

Moving together with The Mutual Fund

1.0	HGOFX	Hartford Growth	Pair Corr
1.0	HGOIX	Hartford Growth	Pair Corr
1.0	HGORX	Hartford Growth	Pair Corr
1.0	HGOSX	Hartford Growth	Pair Corr
0.96	HGOTX	Hartford Growth Oppo	Pair Corr
1.0	HGOVX	Hartford Growth	Pair Corr
1.0	HGOAX	Hartford Growth	Pair Corr
1.0	HGOCX	Hartford Growth	Pair Corr
0.98	HIACX	Hartford Capital App	Pair Corr
0.7	HIADX	Hartford Dividend And	Pair Corr
0.92	HIAGX	Hartford Disciplined	Pair Corr
0.83	HIASX	Hartford Small Pany	Pair Corr
0.94	HIBCX	Hartford Capital App	Pair Corr
0.9	HIMCX	Hartford Midcap Hls	Pair Corr

Moving against The Mutual Fund

0.8	HIABX	Hartford Total Return	Pair Corr
0.4	HHMCX	The Hartford Municipal	Pair Corr
0.73	HIAHX	Hartford Healthcare Hls	Pair Corr
0.55	HIPCX	The Hartford Inflation	Pair Corr
0.51	HIPAX	The Hartford Inflation	Pair Corr
0.47	HILCX	Hartford Interna	Pair Corr
0.46	HILRX	Hartford Interna	Pair Corr
0.45	HILAX	Hartford Interna	Pair Corr

Related Correlations Analysis

	RERGX	RWMGX	AAVXF	SCRYY	444859BR2	AQUI	SCRYX	MLGO	MSTSX	LBHIX
RERGX		0.25	0.0	-0.15	0.04	0.0	0.04	0.31	0.5	0.07	RERGX
RWMGX	0.25		0.0	0.52	-0.73	0.0	0.8	-0.48	0.89	0.68	RWMGX
AAVXF	0.0	0.0		0.0	0.0	-1.0	0.0	0.0	0.0	0.0	AAVXF
SCRYY	-0.15	0.52	0.0		-0.44	0.0	0.44	-0.43	0.47	0.5	SCRYY
444859BR2	0.04	-0.73	0.0	-0.44		0.0	-0.63	0.52	-0.62	-0.59	444859BR2
AQUI	0.0	0.0	-1.0	0.0	0.0		0.0	0.0	0.0	0.0	AQUI
SCRYX	0.04	0.8	0.0	0.44	-0.63	0.0		-0.45	0.58	0.6	SCRYX
MLGO	0.31	-0.48	0.0	-0.43	0.52	0.0	-0.45		-0.4	-0.76	MLGO
MSTSX	0.5	0.89	0.0	0.47	-0.62	0.0	0.58	-0.4		0.72	MSTSX
LBHIX	0.07	0.68	0.0	0.5	-0.59	0.0	0.6	-0.76	0.72		LBHIX
	RERGX	RWMGX	AAVXF	SCRYY	444859BR2	AQUI	SCRYX	MLGO	MSTSX	LBHIX

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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

MSTSX	+ 0.89	RWMGX
SCRYX	+ 0.8	RWMGX
LBHIX	+ 0.72	MSTSX
LBHIX	+ 0.68	RWMGX
LBHIX	+ 0.6	SCRYX
MSTSX	+ 0.58	SCRYX

High negative correlations

AQUI	- 1.0	AAVXF
LBHIX	- 0.76	MLGO
444859BR2	- 0.73	RWMGX
SCRYX	- 0.63	444859BR2
MSTSX	- 0.62	444859BR2
LBHIX	- 0.59	444859BR2

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
RERGX	0.61	(0.06)	0.00	1.72	0.00	0.00	1.14	(1.48)	4.02
RWMGX	0.50	(0.03)	(0.07)	0.05	0.61	(0.52)	1.00	(1.14)	3.32
AAVXF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SCRYY	2.12	0.43	0.13	(1.15)	2.05	(2.81)	5.61	(4.09)	12.99
444859BR2	1.32	0.04	0.00	0.04	0.00	0.00	5.93	(4.60)	16.62
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SCRYX	0.97	0.09	0.01	0.99	0.96	(1.10)	2.39	(1.69)	7.88
MLGO	7.13	(1.21)	0.00	1.93	0.00	0.00	21.74	(12.50)	61.79
MSTSX	0.49	(0.03)	(0.09)	0.05	0.52	(0.59)	1.21	(1.02)	2.80
LBHIX	0.11	0.00	(0.27)	0.00	0.00	(0.29)	0.24	(0.24)	0.96

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