The Hartford Correlations

Mutual Funds . USA . 
Fund . The Hartford International
HILDX Fund  USD 18.75  0.18  0.97%   
The current 90-days correlation between Hartford Interna and Sprott Gold Equity is -0.08 (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

Weak diversification

The correlation between The Hartford International and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Hartford International 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 International. 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 unemployment.

Moving together with The Mutual Fund

  0.66HIABX Hartford Total ReturnPairCorr
  0.76HIAHX Hartford Healthcare HlsPairCorr
  0.88HIAOX Hartford InternationalPairCorr
  1.0HILAX Hartford InternaPairCorr
  1.0HILCX Hartford InternaPairCorr
  1.0HILIX Hartford InternaPairCorr

Moving against The Mutual Fund

  0.56HGOAX Hartford GrowthPairCorr
  0.53HGOFX Hartford GrowthPairCorr
  0.53HGOIX Hartford GrowthPairCorr
  0.53HGOTX Hartford Growth OppoPairCorr
  0.53HGOVX Hartford GrowthPairCorr
  0.53HGOYX Hartford GrowthPairCorr
  0.52HGORX Hartford GrowthPairCorr
  0.52HGOSX Hartford GrowthPairCorr
  0.52HGOCX Hartford GrowthPairCorr
  0.47HIACX Hartford Capital AppPairCorr
  0.62SCUVX Hartford Schroders SmallPairCorr
  0.62SCURX Hartford Schroders SmallPairCorr
  0.62SCUIX Hartford Schroders SmallPairCorr
  0.52HIMCX Hartford Midcap HlsPairCorr
  0.51HIASX Hartford Small PanyPairCorr
  0.5HISCX Hartford Small CapPairCorr
  0.42HIADX Hartford Dividend AndPairCorr

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   
USERX
+ 0.99
FRGOX
INIVX
+ 0.99
FRGOX
INIVX
+ 0.98
USERX
FRGOX
+ 0.95
SGDLX
USERX
+ 0.94
SGDLX
INIVX
+ 0.94
SGDLX
  
High negative correlations   
SPPIX
- 0.91
SGDLX
SPPIX
- 0.9
FRGOX
USERX
- 0.89
SPPIX
INIVX
- 0.86
SPPIX
VGSBX
- 0.21
SGDLX
INIVX
- 0.2
VGSBX

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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