| HGOSX Fund | | | USD 70.24 0.58 0.83% |
The current 90-days correlation between Hartford Growth and Ultra Short Term Fixed is -0.23 (i.e., Very good diversification). The correlation of Hartford Growth 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 Growth Correlation With Market
Good diversification
The correlation between The Hartford Growth and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Hartford Growth 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 Growth. 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 state.