The Hartford Correlations

HLDIX Fund

USD 4.51 0.02 0.44%

The current 90-days correlation between Hartford Emerging and Alphacentric Hedged Market is 0.21 (i.e., Modest 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

Modest diversification

The correlation between The Hartford Emerging and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Hartford Emerging 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 Emerging. 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 The Mutual Fund

0.88	HHHCX	Hartford Schroders	Pair Corr
0.88	HHHFX	Hartford Schroders	Pair Corr
0.88	HHHRX	Hartford Schroders	Pair Corr
0.88	HHHSX	Hartford Schroders	Pair Corr
0.84	HHHTX	Hartford Schroders	Pair Corr
0.88	HHHYX	Hartford Schroders	Pair Corr
0.67	HIABX	Hartford Total Return	Pair Corr
0.72	HIADX	Hartford Dividend And	Pair Corr
0.73	HIBSX	Hartford Stock Hls	Pair Corr
0.83	HIAHX	Hartford Healthcare Hls	Pair Corr
0.74	HIAOX	Hartford International	Pair Corr
0.9	HILAX	Hartford Interna	Pair Corr

Moving against The Mutual Fund

0.47	HGOAX	Hartford Growth	Pair Corr
0.44	HGOFX	Hartford Growth	Pair Corr
0.44	HGOIX	Hartford Growth	Pair Corr
0.44	HGOTX	Hartford Growth Oppo	Pair Corr
0.44	HGOVX	Hartford Growth	Pair Corr
0.44	HGOYX	Hartford Growth	Pair Corr
0.43	HGORX	Hartford Growth	Pair Corr
0.43	HGOSX	Hartford Growth	Pair Corr
0.43	HGOCX	Hartford Growth	Pair Corr

Related Correlations Analysis

	HMXAX	CDHIX	DLTZX	LOTCX	EMDQX	LIGFX	SRWAX
HMXAX		0.35	0.54	0.5	0.17	0.87	0.56	HMXAX
CDHIX	0.35		0.08	-0.3	0.82	0.56	0.71	CDHIX
DLTZX	0.54	0.08		0.62	-0.15	0.44	0.0	DLTZX
LOTCX	0.5	-0.3	0.62		-0.62	0.17	-0.25	LOTCX
EMDQX	0.17	0.82	-0.15	-0.62		0.47	0.76	EMDQX
LIGFX	0.87	0.56	0.44	0.17	0.47		0.83	LIGFX
SRWAX	0.56	0.71	0.0	-0.25	0.76	0.83		SRWAX
	HMXAX	CDHIX	DLTZX	LOTCX	EMDQX	LIGFX	SRWAX

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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

LIGFX	+ 0.87	HMXAX
SRWAX	+ 0.83	LIGFX
EMDQX	+ 0.82	CDHIX
SRWAX	+ 0.76	EMDQX
SRWAX	+ 0.71	CDHIX
LOTCX	+ 0.62	DLTZX

High negative correlations

EMDQX	- 0.62	LOTCX
LOTCX	- 0.3	CDHIX
SRWAX	- 0.25	LOTCX
EMDQX	- 0.15	DLTZX
SRWAX	- 0.0	DLTZX

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
HMXAX	0.49	0.01	(0.06)	0.13	0.69	(0.46)	0.90	(1.18)	4.29
CDHIX	0.55	0.00	(0.11)	0.03	0.76	(0.56)	1.20	(1.11)	3.77
DLTZX	0.08	0.01	(0.47)	0.29	0.00	(0.19)	0.26	(0.13)	0.64
LOTCX	0.52	0.05	(0.06)	(0.50)	0.66	(0.57)	0.79	(1.28)	3.77
EMDQX	0.35	(0.03)	0.00	(0.13)	0.00	0.00	0.89	(0.66)	1.77
LIGFX	0.28	0.00	(0.15)	0.10	0.37	(0.29)	0.62	(0.50)	2.04
SRWAX	0.37	(0.02)	(0.10)	(0.01)	0.74	(0.38)	0.71	(0.70)	4.64

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