Hartford Small Correlations

HSMFX Fund

USD 12.38 0.19 1.56%

The current 90-days correlation between Hartford Small Cap and Us Government Securities is 0.06 (i.e., Significant 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

Poor diversification

The correlation between Hartford Small Cap and DJI is 0.74 (i.e., 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 census.

Moving together with Hartford Mutual Fund

0.88	HGOFX	Hartford Growth	Pair Corr
0.85	HGORX	Hartford Growth	Pair Corr
0.83	HGOSX	Hartford Growth	Pair Corr
0.86	HGOTX	Hartford Growth Oppo	Pair Corr
0.86	HGOVX	Hartford Growth	Pair Corr
0.86	HGOYX	Hartford Growth	Pair Corr
0.69	HGOAX	Hartford Growth	Pair Corr
0.9	HGOCX	Hartford Growth	Pair Corr
0.76	HIACX	Hartford Capital App	Pair Corr
0.65	HIADX	Hartford Dividend And	Pair Corr
0.69	HIBSX	Hartford Stock Hls	Pair Corr
0.8	HIAOX	Hartford International	Pair Corr
0.76	HIBCX	Hartford Capital App	Pair Corr
0.81	HILDX	Hartford International	Pair Corr
0.74	HILCX	Hartford International	Pair Corr
0.88	HILIX	Hartford International	Pair Corr
0.82	HILRX	Hartford International	Pair Corr
0.82	HILSX	Hartford International	Pair Corr
0.88	HILTX	Hartford International	Pair Corr
0.73	HILYX	Hartford International	Pair Corr
0.89	HIOCX	Hartford International	Pair Corr

Moving against Hartford Mutual Fund

0.57	HIPFX	The Hartford Inflation	Pair Corr
0.55	HIPIX	The Hartford Inflation	Pair Corr
0.53	HIPAX	The Hartford Inflation	Pair Corr
0.51	HIPTX	The Hartford Inflation	Pair Corr
0.43	STWVX	Hartford Schroders Tax	Pair Corr

Related Correlations Analysis

	GVTFX	UGSDX	JGBZX	SSAGX	BIGBX	RYAQX	SIGVX	FCSCX
GVTFX		0.35	0.87	0.53	0.7	0.05	0.53	0.46	GVTFX
UGSDX	0.35		0.06	0.87	0.63	0.68	0.87	0.81	UGSDX
JGBZX	0.87	0.06		0.18	0.48	-0.29	0.18	0.11	JGBZX
SSAGX	0.53	0.87	0.18		0.83	0.77	0.99	0.97	SSAGX
BIGBX	0.7	0.63	0.48	0.83		0.39	0.82	0.76	BIGBX
RYAQX	0.05	0.68	-0.29	0.77	0.39		0.76	0.83	RYAQX
SIGVX	0.53	0.87	0.18	0.99	0.82	0.76		0.97	SIGVX
FCSCX	0.46	0.81	0.11	0.97	0.76	0.83	0.97		FCSCX
	GVTFX	UGSDX	JGBZX	SSAGX	BIGBX	RYAQX	SIGVX	FCSCX

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

SIGVX	+ 0.99	SSAGX
FCSCX	+ 0.97	SSAGX
FCSCX	+ 0.97	SIGVX
JGBZX	+ 0.87	GVTFX
SSAGX	+ 0.87	UGSDX
SIGVX	+ 0.87	UGSDX

High negative correlations

RYAQX

- 0.29

JGBZX

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
GVTFX	0.13	0.00	(0.37)	0.01	0.12	(0.17)	0.33	(0.25)	0.91
UGSDX	0.02	0.00	0.00	0.26	0.00	0.00	0.00	0.00	0.52
JGBZX	0.15	0.00	(0.37)	(0.17)	0.14	(0.18)	0.31	(0.31)	1.03
SSAGX	0.04	0.01	0.00	(1.52)	0.00	0.00	0.10	(0.10)	0.51
BIGBX	0.10	0.00	(0.44)	(0.14)	0.00	(0.15)	0.20	(0.20)	0.60
RYAQX	0.38	0.03	(0.11)	(0.12)	0.41	(0.44)	0.98	(0.61)	2.24
SIGVX	0.06	0.00	(0.66)	(0.81)	0.00	(0.13)	0.10	(0.10)	0.51
FCSCX	0.04	0.00	0.00	(0.13)	0.00	0.00	0.13	(0.13)	0.53

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