Hartford Healthcare Correlations

HIAHX Fund

USD 17.05 0.05 0.29%

The current 90-days correlation between Hartford Healthcare Hls and Virtus Seix Government is 0.1 (i.e., Average diversification). The correlation of Hartford Healthcare 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 Healthcare Correlation With Market

Very weak diversification

The correlation between Hartford Healthcare Hls and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hartford Healthcare Hls 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 Hartford Healthcare Hls. 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 rate.

Moving together with Hartford Mutual Fund

0.8	HIABX	Hartford Total Return	Pair Corr
0.77	HILAX	Hartford Interna	Pair Corr
0.78	HILCX	Hartford Interna	Pair Corr
0.76	HILIX	Hartford Interna	Pair Corr
0.77	HILSX	Hartford Interna	Pair Corr
0.76	HILTX	Hartford Interna	Pair Corr

Moving against Hartford Mutual Fund

0.75	HGOFX	Hartford Growth	Pair Corr
0.75	HGOIX	Hartford Growth	Pair Corr
0.75	HGORX	Hartford Growth	Pair Corr
0.75	HGOSX	Hartford Growth	Pair Corr
0.75	HGOTX	Hartford Growth Oppo	Pair Corr
0.75	HGOVX	Hartford Growth	Pair Corr
0.75	HGOYX	Hartford Growth	Pair Corr
0.75	HGOAX	Hartford Growth	Pair Corr
0.75	HGOCX	Hartford Growth	Pair Corr
0.68	HIACX	Hartford Capital App	Pair Corr
0.66	HIAGX	Hartford Disciplined	Pair Corr
0.68	HIBCX	Hartford Capital App	Pair Corr
0.68	HIMCX	Hartford Midcap Hls	Pair Corr
0.64	SCURX	Hartford Schroders Small	Pair Corr
0.64	SCUIX	Hartford Schroders Small	Pair Corr
0.63	SCUVX	Hartford Schroders Small	Pair Corr
0.59	HIASX	Hartford Small Pany	Pair Corr
0.59	HISCX	Hartford Small Cap	Pair Corr

Related Correlations Analysis

	SSAGX	BIGLX	PGIQX	ICAXX	VSBSX	AGIVX	TWACX
SSAGX		-0.48	-0.48	0.0	0.06	0.88	-0.16	SSAGX
BIGLX	-0.48		1.0	0.0	0.74	-0.08	0.91	BIGLX
PGIQX	-0.48	1.0		0.0	0.75	-0.08	0.91	PGIQX
ICAXX	0.0	0.0	0.0		0.0	0.0	0.0	ICAXX
VSBSX	0.06	0.74	0.75	0.0		0.45	0.92	VSBSX
AGIVX	0.88	-0.08	-0.08	0.0	0.45		0.25	AGIVX
TWACX	-0.16	0.91	0.91	0.0	0.92	0.25		TWACX
	SSAGX	BIGLX	PGIQX	ICAXX	VSBSX	AGIVX	TWACX

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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

PGIQX	+ 1.0	BIGLX
TWACX	+ 0.92	VSBSX
TWACX	+ 0.91	BIGLX
TWACX	+ 0.91	PGIQX
AGIVX	+ 0.88	SSAGX
VSBSX	+ 0.75	PGIQX

High negative correlations

PGIQX	- 0.48	SSAGX
BIGLX	- 0.48	SSAGX
TWACX	- 0.16	SSAGX
AGIVX	- 0.08	PGIQX
AGIVX	- 0.08	BIGLX
TWACX	- 0.0	ICAXX

Risk-Adjusted Indicators

There is a big difference between Hartford Mutual Fund performing well and Hartford Healthcare 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 Healthcare'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
SSAGX	0.05	0.01	(1.07)	(0.29)	0.00	(0.23)	0.10	(0.10)	0.51
BIGLX	0.22	(0.03)	0.00	0.61	0.00	0.00	0.33	(0.55)	1.44
PGIQX	0.23	(0.03)	0.00	0.47	0.00	0.00	0.50	(0.64)	1.41
ICAXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VSBSX	0.07	0.00	(1.15)	0.22	0.06	(0.10)	0.15	(0.10)	0.62
AGIVX	0.09	0.01	(0.70)	(0.31)	0.00	(0.20)	0.29	(0.14)	0.72
TWACX	0.08	(0.01)	0.00	0.50	0.00	0.00	0.11	(0.11)	0.78

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