Hartford Small Correlations

HSMBX Fund

USD 39.65 0.47 1.20%

The current 90-days correlation between Hartford Small Cap and Great West Goldman Sachs is 0.77 (i.e., Poor diversification). The correlation of Hartford Small 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 Small Correlation With Market

Very poor diversification

The correlation between Hartford Small Cap and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hartford Small Cap 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 Small Cap. 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 bureau of labor statistics.

Moving together with Hartford Mutual Fund

0.8	ARAAX	Horizon Active Risk	Pair Corr
0.77	HNDRX	Horizon Defined Risk	Pair Corr
0.84	USRTX	Horizon Defensive Equity	Pair Corr
0.78	HADRX	Horizon Defined Risk	Pair Corr
0.74	HADUX	Horizon Active Dividend	Pair Corr
1.0	HSMNX	Horizon Defensive Smmd	Pair Corr
0.72	HESAX	Horizon Esg Defensive	Pair Corr
0.96	VSMAX	Vanguard Small Cap	Pair Corr
0.96	VSCIX	Vanguard Small Cap	Pair Corr
0.95	VSCPX	Vanguard Small Cap	Pair Corr
0.96	NAESX	Vanguard Small Cap	Pair Corr
0.89	FSSNX	Fidelity Small Cap	Pair Corr
0.98	DFSTX	Us Small Cap	Pair Corr
0.98	FTHSX	Fuller Thaler Behavioral	Pair Corr
0.98	FTHNX	Fuller Thaler Behavioral	Pair Corr
0.8	PASVX	T Rowe Price	Pair Corr
0.8	PRVIX	T Rowe Price	Pair Corr
0.9	JEPIX	Jpmorgan Equity Premium	Pair Corr
0.8	DHSCX	Diamond Hill Small	Pair Corr
0.84	TCIEX	Tiaa Cref International	Pair Corr
0.79	JOPSX	Johcm International	Pair Corr

Moving against Hartford Mutual Fund

0.36

HTFNX

Horizon Funds

Pair Corr

Related Correlations Analysis

	MXKJX	FEGOX	VGSBX	GCEBX	GLRBX	AGGWX	SGDLX
MXKJX		0.51	0.11	0.09	0.58	0.52	0.51	MXKJX
FEGOX	0.51		0.17	0.21	0.84	1.0	0.99	FEGOX
VGSBX	0.11	0.17		0.43	0.17	0.15	0.17	VGSBX
GCEBX	0.09	0.21	0.43		0.37	0.19	0.2	GCEBX
GLRBX	0.58	0.84	0.17	0.37		0.82	0.84	GLRBX
AGGWX	0.52	1.0	0.15	0.19	0.82		0.99	AGGWX
SGDLX	0.51	0.99	0.17	0.2	0.84	0.99		SGDLX
	MXKJX	FEGOX	VGSBX	GCEBX	GLRBX	AGGWX	SGDLX

Risk-Adjusted Indicators

There is a big difference between Hartford Mutual Fund performing well and Hartford Small 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 Small'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
MXKJX	0.73	(0.11)	0.00	(0.05)	0.00	0.00	1.44	(1.38)	7.73
FEGOX	1.64	0.18	0.07	0.27	2.40	(1.74)	3.45	(3.65)	11.36
VGSBX	0.15	0.00	(0.22)	(1.07)	0.13	(0.19)	0.32	(0.32)	0.96
GCEBX	0.77	0.13	0.12	0.23	0.81	(0.93)	2.20	(0.99)	6.25
GLRBX	0.37	0.06	0.08	0.18	0.17	(0.44)	0.75	(0.54)	4.49
AGGWX	1.86	0.17	0.06	0.20	2.55	(1.84)	4.53	(4.36)	12.80
SGDLX	1.70	0.20	0.07	0.27	2.38	(1.73)	3.76	(3.99)	11.37

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