The Hartford Correlations

HIPAX Fund

USD 10.36 0.01 0.1%

The current 90-days correlation between The Hartford Inflation and T Rowe Price is 0.14 (i.e., Average 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

Significant diversification

The correlation between The Hartford Inflation and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Hartford Inflation 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 Inflation. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with The Mutual Fund

0.96	VIPSX	Vanguard Inflation-protec	Pair Corr
0.94	VIPIX	Vanguard Inflation	Pair Corr
0.96	VAIPX	Vanguard Inflation	Pair Corr
0.96	FLIBX	American Funds Inflation	Pair Corr
0.94	FIBLX	American Funds Inflation	Pair Corr
0.88	BFICX	American Funds Inflation	Pair Corr
0.93	BFIAX	American Funds Inflation	Pair Corr
0.94	BFIFX	American Funds Inflation	Pair Corr
0.96	FSTDX	Fidelity Series 5	Pair Corr
0.95	PARRX	Real Return Fund	Pair Corr
0.64	GE	GE Aerospace	Pair Corr
0.76	WMT	Walmart	Pair Corr
0.69	AA	Alcoa Corp	Pair Corr

Moving against The Mutual Fund

0.66	VZ	Verizon Communications	Pair Corr
0.52	T	ATT Inc	Pair Corr
0.38	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.35	BA	Boeing	Pair Corr

Related Correlations Analysis

	RPBAX	CPUCX	FLDFX	VOLJX	OPTCX	FFCGX	ABVCX
RPBAX		0.76	0.99	0.97	0.93	0.97	0.93	RPBAX
CPUCX	0.76		0.76	0.72	0.71	0.72	0.67	CPUCX
FLDFX	0.99	0.76		0.97	0.94	0.97	0.93	FLDFX
VOLJX	0.97	0.72	0.97		0.9	0.96	0.92	VOLJX
OPTCX	0.93	0.71	0.94	0.9		0.91	0.92	OPTCX
FFCGX	0.97	0.72	0.97	0.96	0.91		0.88	FFCGX
ABVCX	0.93	0.67	0.93	0.92	0.92	0.88		ABVCX
	RPBAX	CPUCX	FLDFX	VOLJX	OPTCX	FFCGX	ABVCX

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
RPBAX	0.35	0.02	0.01	0.05	0.51	(0.33)	0.79	(0.74)	2.13
CPUCX	0.19	0.02	(0.02)	0.82	0.10	(0.24)	0.32	(0.32)	0.97
FLDFX	0.41	0.03	0.03	0.06	0.56	(0.40)	0.89	(0.73)	2.65
VOLJX	0.57	0.03	0.03	0.05	0.97	(0.53)	1.36	(1.22)	3.88
OPTCX	0.17	0.00	(0.06)	0.03	0.13	(0.23)	0.41	(0.30)	1.01
FFCGX	0.54	0.00	0.00	0.02	0.85	(0.47)	1.02	(1.31)	3.57
ABVCX	0.49	0.03	0.03	0.05	0.62	(0.55)	1.03	(1.12)	3.47

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