The Hartford Correlations

Mutual Funds . USA . 
Fund . The Hartford Balanced
ITTFX Fund  USD 19.44  0.05  0.26%   
The current 90-days correlation between Hartford Balanced and The Hartford Growth is 0.66 (i.e., Poor 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

Poor diversification

The correlation between The Hartford Balanced and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Hartford Balanced 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 Balanced. 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 The Mutual Fund

  0.92HGXAX Hartford Global ImpactPairCorr
  0.92HGXCX Hartford Global ImpactPairCorr
  0.92HGXFX Hartford Global ImpactPairCorr
  0.92HGXIX Hartford Global ImpactPairCorr
  0.92HGXRX Hartford Global ImpactPairCorr
  0.92HGXSX Hartford Global ImpactPairCorr
  0.92HGXTX Hartford Global ImpactPairCorr
  0.92HGXYX Hartford Global ImpactPairCorr
  0.62HIAOX Hartford InternationalPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
HGOFX  0.79  0.05  0.03  0.18  1.14 
(0.76)
 1.70 
(2.30)
 5.60 
HGOIX  0.79  0.05  0.03  0.18  1.14 
(0.75)
 1.71 
(2.30)
 5.59 
HGORX  0.79  0.04  0.03  0.17  1.15 
(0.75)
 1.72 
(2.31)
 5.57 
HGOSX  0.80  0.05  0.03  0.17  1.15 
(0.75)
 1.73 
(2.29)
 5.59 
HGOTX  0.80  0.05  0.03  0.18  1.15 
(0.74)
 1.71 
(2.30)
 5.58 
HGOVX  0.80  0.05  0.03  0.18  1.15 
(0.76)
 1.72 
(2.31)
 5.58 
HGOYX  0.80  0.05  0.03  0.18  1.15 
(0.74)
 1.72 
(2.30)
 5.58 
HGOAX  0.81  0.14  0.01 (5.31) 1.18 
(0.75)
 1.72 
(2.31)
 5.60 
HGOCX  0.79  0.04  0.02  0.17  1.15 
(0.75)
 1.71 
(2.32)
 5.61 
HGXAX  0.58 (0.06)(0.13) 0.04  0.73 
(0.59)
 0.94 
(1.05)
 2.82 

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