The Hartford Correlations

HMDCX Fund

USD 25.97 0.03 0.12%

The current 90-days correlation between Hartford Midcap and Transamerica Financial Life is 0.93 (i.e., Almost no 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

Good diversification

The correlation between The Hartford Midcap and DJI is -0.13 (i.e., Good 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 The Mutual Fund

0.95	HGOFX	Hartford Growth	Pair Corr
0.99	HGOIX	Hartford Growth	Pair Corr
0.99	HGORX	Hartford Growth	Pair Corr
0.95	HGOSX	Hartford Growth	Pair Corr
0.95	HGOTX	Hartford Growth Oppo	Pair Corr
0.95	HGOVX	Hartford Growth	Pair Corr
0.95	HGOYX	Hartford Growth	Pair Corr
0.99	HGOAX	Hartford Growth	Pair Corr
0.99	HGOCX	Hartford Growth	Pair Corr
0.99	HGXAX	Hartford Global Impact	Pair Corr
0.99	HGXCX	Hartford Global Impact	Pair Corr
0.96	HGXFX	Hartford Global Impact	Pair Corr
0.96	HGXIX	Hartford Global Impact	Pair Corr
0.96	HGXRX	Hartford Global Impact	Pair Corr
0.96	HGXSX	Hartford Global Impact	Pair Corr
0.96	HGXTX	Hartford Global Impact	Pair Corr
0.96	HGXVX	Hartford Global Impact	Pair Corr
0.96	HGXYX	Hartford Global Impact	Pair Corr
0.96	HHHCX	Hartford Schroders	Pair Corr
0.96	HHHFX	Hartford Schroders	Pair Corr
0.96	HHHRX	Hartford Schroders	Pair Corr
0.96	HHHSX	Hartford Schroders	Pair Corr
0.96	HHHTX	Hartford Schroders	Pair Corr
0.96	HHHYX	Hartford Schroders	Pair Corr
0.72	HHMIX	The Hartford Municipal	Pair Corr
0.95	HIACX	Hartford Capital App	Pair Corr
0.93	HIADX	Hartford Dividend And	Pair Corr
0.91	HIBSX	Hartford Stock Hls	Pair Corr
0.99	HIAGX	Hartford Disciplined	Pair Corr
0.94	HIAOX	Hartford International	Pair Corr
0.94	HIASX	Hartford Small Pany	Pair Corr
0.95	HIBCX	Hartford Capital App	Pair Corr
1.0	HIMCX	Hartford Midcap Hls	Pair Corr
0.95	HILAX	Hartford Interna	Pair Corr

Related Correlations Analysis

	IAAEX	BTO	ICFAX	SBFAX	GCFSX	PSSRX	MSVIX	XFINX
IAAEX		0.88	0.87	0.87	0.96	0.88	0.99	-0.29	IAAEX
BTO	0.88		0.95	0.97	0.93	0.97	0.91	-0.15	BTO
ICFAX	0.87	0.95		0.96	0.93	0.98	0.91	-0.26	ICFAX
SBFAX	0.87	0.97	0.96		0.92	0.98	0.89	-0.23	SBFAX
GCFSX	0.96	0.93	0.93	0.92		0.94	0.98	-0.34	GCFSX
PSSRX	0.88	0.97	0.98	0.98	0.94		0.91	-0.25	PSSRX
MSVIX	0.99	0.91	0.91	0.89	0.98	0.91		-0.31	MSVIX
XFINX	-0.29	-0.15	-0.26	-0.23	-0.34	-0.25	-0.31		XFINX
	IAAEX	BTO	ICFAX	SBFAX	GCFSX	PSSRX	MSVIX	XFINX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

MSVIX	+ 0.99	IAAEX
PSSRX	+ 0.98	ICFAX
PSSRX	+ 0.98	SBFAX
MSVIX	+ 0.98	GCFSX
SBFAX	+ 0.97	BTO
PSSRX	+ 0.97	BTO

High negative correlations

XFINX	- 0.34	GCFSX
XFINX	- 0.31	MSVIX
XFINX	- 0.29	IAAEX
XFINX	- 0.26	ICFAX
XFINX	- 0.25	PSSRX
XFINX	- 0.23	SBFAX

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
IAAEX	1.02	0.06	(0.01)	(0.39)	1.53	(1.11)	1.98	(2.46)	10.59
BTO	1.33	0.03	0.01	0.10	2.30	(1.21)	2.34	(3.14)	12.33
ICFAX	1.18	(0.01)	0.00	0.06	1.89	(1.22)	2.18	(2.42)	13.29
SBFAX	0.96	(0.03)	(0.02)	0.04	1.64	(1.01)	1.87	(1.93)	9.57
GCFSX	0.87	0.17	0.06	1.64	1.47	(0.90)	1.94	(1.47)	6.13
PSSRX	1.14	0.02	0.02	0.09	2.17	(1.11)	2.08	(2.65)	12.35
MSVIX	1.22	0.11	0.02	(1.08)	1.97	(1.26)	2.13	(2.68)	13.17
XFINX	0.42	(0.05)	0.00	(2.13)	0.00	0.00	0.77	(1.41)	4.64

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