The Hartford Correlations

Mutual Funds . USA . 
Fund . The Hartford Municipal
HHMCX Fund  USD 8.18  0.01  0.12%   
The current 90-days correlation between The Hartford Municipal and Lord Abbett Convertible is 0.22 (i.e., Modest 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

Modest diversification

The correlation between The Hartford Municipal and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Hartford Municipal 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 Municipal. 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 The Mutual Fund

  0.87HGOFX Hartford GrowthPairCorr
  0.87HGOIX Hartford GrowthPairCorr
  0.87HGORX Hartford GrowthPairCorr
  0.87HGOSX Hartford GrowthPairCorr
  0.86HGOTX Hartford Growth OppoPairCorr
  0.86HGOVX Hartford GrowthPairCorr
  0.87HGOYX Hartford GrowthPairCorr
  0.87HGOAX Hartford GrowthPairCorr
  0.87HGOCX Hartford GrowthPairCorr
  0.88HGXAX Hartford Global ImpactPairCorr
  0.88HGXCX Hartford Global ImpactPairCorr
  0.88HGXFX Hartford Global ImpactPairCorr
  0.88HGXIX Hartford Global ImpactPairCorr
  0.88HGXRX Hartford Global ImpactPairCorr
  0.88HGXSX Hartford Global ImpactPairCorr
  0.88HGXTX Hartford Global ImpactPairCorr
  0.88HGXVX Hartford Global ImpactPairCorr
  0.88HGXYX Hartford Global ImpactPairCorr
  0.86HHHCX Hartford SchrodersPairCorr
  0.86HHHFX Hartford SchrodersPairCorr
  0.86HHHRX Hartford SchrodersPairCorr
  0.86HHHSX Hartford SchrodersPairCorr
  0.86HHHTX Hartford SchrodersPairCorr
  0.99HHMAX The Hartford MunicipalPairCorr
  0.99HHMFX The Hartford MunicipalPairCorr
  0.98HHMIX The Hartford MunicipalPairCorr
  0.99HHMYX The Hartford MunicipalPairCorr
  0.8HIABX Hartford Total ReturnPairCorr
  0.88HIACX Hartford Capital AppPairCorr
  0.89HIADX Hartford Dividend AndPairCorr
  0.85HIBSX Hartford Stock HlsPairCorr
  0.87HIAGX Hartford DisciplinedPairCorr
  0.87HIAOX Hartford InternationalPairCorr
  0.86HIASX Hartford Small PanyPairCorr
  0.88HIBCX Hartford Capital AppPairCorr
  0.87HILAX Hartford InternationalPairCorr

Related Correlations Analysis

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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.

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