Hartford Multifactor Correlations

RODM Etf

USD 38.83 0.47 1.23%

The current 90-days correlation between Hartford Multifactor and JPMorgan Emerging Markets is 0.71 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Hartford Multifactor moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hartford Multifactor Developed moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Hartford Multifactor Correlation With Market

Almost no diversification

The correlation between Hartford Multifactor Developed and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hartford Multifactor Developed and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Hartford Etf

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Hartford Multifactor Developed. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in small area income & poverty estimates.

Moving together with Hartford Etf

0.98	EFV	iShares MSCI EAFE	Pair Corr
0.97	FNDF	Schwab Fundamental	Pair Corr
0.85	DOO	BRP Inc Symbol Change	Pair Corr
1.0	VYMI	Vanguard International	Pair Corr
0.99	IDV	iShares International Low Volatility	Pair Corr
0.98	DFIV	Dimensional International	Pair Corr
0.98	IVLU	iShares Edge MSCI	Pair Corr
0.99	PXF	Invesco FTSE RAFI	Pair Corr
0.96	HDEF	Xtrackers MSCI EAFE	Pair Corr
0.93	AGQ	ProShares Ultra Silver Trending	Pair Corr
0.93	GDXU	MicroSectors Gold Miners	Pair Corr
0.95	JNUG	Direxion Daily Junior	Pair Corr
0.95	NUGT	Direxion Daily Gold	Pair Corr
0.93	SGOL	abrdn Physical Gold	Pair Corr
0.78	EEMX	SPDR MSCI Emerging	Pair Corr
0.92	JANH	Innovator Equity Premium	Pair Corr
0.97	IWD	iShares Russell 1000	Pair Corr
0.92	LITL	Simplify Exchange Traded	Pair Corr
0.92	LIT	Global X Lithium	Pair Corr
0.96	SPVM	Invesco SP 500	Pair Corr
0.95	AA	Alcoa Corp	Pair Corr
0.83	JNJ	Johnson Johnson	Pair Corr
0.86	MRK	Merck Company Earnings Call This Week	Pair Corr
0.81	BA	Boeing	Pair Corr

Moving against Hartford Etf

0.79	FNGO	MicroSectors FANG Index	Pair Corr
0.5	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.38	NVDL	GraniteShares 15x Long Aggressive Push	Pair Corr
0.74	MSFT	Microsoft Earnings Call Today	Pair Corr
0.37	MMM	3M Company	Pair Corr

Related Correlations Analysis

	GEM	GSUS	XCEM	SCHY	SPGM	EMGF	DHS	GLOV	IYK	JEMA
GEM		0.63	0.99	0.71	0.84	0.97	0.74	0.64	0.48	0.96	GEM
GSUS	0.63		0.64	0.65	0.91	0.66	0.57	0.81	0.13	0.73	GSUS
XCEM	0.99	0.64		0.77	0.87	0.96	0.79	0.69	0.46	0.97	XCEM
SCHY	0.71	0.65	0.77		0.86	0.7	0.94	0.94	0.48	0.81	SCHY
SPGM	0.84	0.91	0.87	0.86		0.86	0.83	0.9	0.38	0.92	SPGM
EMGF	0.97	0.66	0.96	0.7	0.86		0.73	0.64	0.49	0.98	EMGF
DHS	0.74	0.57	0.79	0.94	0.83	0.73		0.89	0.66	0.82	DHS
GLOV	0.64	0.81	0.69	0.94	0.9	0.64	0.89		0.43	0.76	GLOV
IYK	0.48	0.13	0.46	0.48	0.38	0.49	0.66	0.43		0.49	IYK
JEMA	0.96	0.73	0.97	0.81	0.92	0.98	0.82	0.76	0.49		JEMA
	GEM	GSUS	XCEM	SCHY	SPGM	EMGF	DHS	GLOV	IYK	JEMA

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Hartford Multifactor Constituents Risk-Adjusted Indicators

There is a big difference between Hartford Etf performing well and Hartford Multifactor ETF 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 Multifactor'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
GEM	0.64	0.13	0.10	0.69	0.53	(0.73)	1.35	(1.08)	3.27
GSUS	0.55	0.00	(0.02)	0.07	0.79	(0.52)	1.12	(1.27)	3.72
XCEM	0.63	0.17	0.14	0.91	0.62	(0.70)	1.47	(1.23)	3.23
SCHY	0.50	0.15	0.22	0.42	0.00	(0.60)	1.20	(0.60)	2.28
SPGM	0.54	0.04	0.03	0.12	0.72	(0.53)	1.05	(1.26)	3.35
EMGF	0.66	0.13	0.13	0.28	0.49	(0.75)	1.55	(1.12)	3.42
DHS	0.50	0.05	0.04	0.17	0.34	(0.59)	1.43	(0.87)	2.34
GLOV	0.39	0.02	(0.02)	0.11	0.39	(0.42)	0.75	(0.64)	2.51
IYK	0.61	0.03	(0.04)	0.23	0.68	(0.65)	1.44	(1.04)	3.51
JEMA	0.68	0.15	0.17	0.29	0.55	(0.79)	1.58	(1.21)	3.75

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