Hartford Municipal Correlations

Mutual Funds . USA . 
Fund . The Hartford Municipal
HHMIX Fund  USD 8.37  0.01  0.12%   
The current 90-days correlation between The Hartford Municipal and The Hartford Growth is -0.12 (i.e., Good diversification). The correlation of Hartford Municipal 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.

Hartford Municipal Correlation With Market

Very good diversification

The correlation between The Hartford Municipal and DJI is -0.29 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Hartford Municipal 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 Municipal. 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 Hartford Mutual Fund

  0.99HHMAX The Hartford MunicipalPairCorr
  0.96HHMCX The Hartford MunicipalPairCorr
  0.99HHMFX The Hartford MunicipalPairCorr
  0.61HIABX Hartford Total ReturnPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Hartford Mutual Fund performing well and Hartford Municipal 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 Hartford Municipal'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
HGOFX  0.82  0.03  0.02  0.15  1.18 
(0.78)
 1.70 
(2.30)
 5.60 
HGOIX  0.82  0.03  0.02  0.15  1.20 
(0.78)
 1.71 
(2.30)
 5.59 
HGORX  0.82  0.03  0.02  0.15  1.20 
(0.77)
 1.72 
(2.31)
 5.57 
HGOSX  0.82  0.03  0.02  0.15  1.20 
(0.78)
 1.73 
(2.29)
 5.59 
HGOTX  0.82  0.03  0.02  0.15  1.20 
(0.76)
 1.71 
(2.30)
 5.58 
HGOVX  0.82  0.03  0.02  0.15  1.18 
(0.78)
 1.72 
(2.31)
 5.58 
HGOYX  0.82  0.03  0.02  0.15  1.20 
(0.76)
 1.72 
(2.30)
 5.58 
HGOAX  0.82  0.03  0.02  0.15  1.20 
(0.78)
 1.72 
(2.31)
 5.60 
HGOCX  0.82  0.03  0.02  0.15  1.18 
(0.77)
 1.71 
(2.32)
 5.61 
HGXAX  0.59 (0.05)(0.11) 0.05  0.72 
(0.61)
 1.01 
(1.05)
 3.72 

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