Hartford Midcap Correlations

Mutual Funds . USA . 
Fund . The Hartford Midcap
HFMCX Fund  USD 26.00  0.20  0.78%   
The current 90-days correlation between Hartford Midcap and Queens Road Small is 0.87 (i.e., Very poor diversification). The correlation of Hartford Midcap 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 Midcap Correlation With Market

Very poor diversification

The correlation between The Hartford Midcap and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Hartford Midcap 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 Midcap. 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 main economic indicators.

Moving together with Hartford Mutual Fund

  0.97HGOFX Hartford GrowthPairCorr
  0.97HGOIX Hartford GrowthPairCorr
  0.97HGORX Hartford GrowthPairCorr
  0.97HGOSX Hartford GrowthPairCorr
  0.97HGOTX Hartford Growth OppoPairCorr
  0.97HGOVX Hartford GrowthPairCorr
  0.97HGOYX Hartford GrowthPairCorr
  0.97HGOAX Hartford GrowthPairCorr
  0.97HGOCX Hartford GrowthPairCorr
  0.99HGXAX Hartford Global ImpactPairCorr
  0.99HGXCX Hartford Global ImpactPairCorr
  0.99HGXFX Hartford Global ImpactPairCorr
  0.99HGXIX Hartford Global ImpactPairCorr
  0.99HGXRX Hartford Global ImpactPairCorr
  0.99HGXSX Hartford Global ImpactPairCorr
  0.99HGXTX Hartford Global ImpactPairCorr
  0.99HGXVX Hartford Global ImpactPairCorr
  0.99HGXYX Hartford Global ImpactPairCorr
  0.97HHHCX Hartford SchrodersPairCorr
  0.97HHHFX Hartford SchrodersPairCorr
  0.97HHHRX Hartford SchrodersPairCorr
  0.97HHHSX Hartford SchrodersPairCorr
  0.97HHHTX Hartford SchrodersPairCorr
  0.97HHHYX Hartford SchrodersPairCorr
  0.89HHMAX The Hartford MunicipalPairCorr
  0.87HHMCX The Hartford MunicipalPairCorr
  0.9HHMFX The Hartford MunicipalPairCorr
  0.9HHMIX The Hartford MunicipalPairCorr
  0.89HHMYX The Hartford MunicipalPairCorr
  0.61HIABX Hartford Total ReturnPairCorr
  0.97HIACX Hartford Capital AppPairCorr
  0.96HIADX Hartford Dividend AndPairCorr
  0.95HIBSX Hartford Stock HlsPairCorr
  0.97HIAGX Hartford DisciplinedPairCorr
  0.97HIAOX Hartford InternationalPairCorr
  0.98HIASX Hartford Small PanyPairCorr
  0.97HIBCX Hartford Capital AppPairCorr
  1.0HIMCX Hartford Midcap HlsPairCorr
  0.94HILAX Hartford InternationalPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Hartford Mutual Fund performing well and Hartford Midcap 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 Midcap'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.

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