Hartford Municipal Correlations

Mutual Funds . USA . 
Fund . Hartford Municipal Short
HMJCX Fund  USD 10.03  0.01  0.1%   
The current 90-days correlation between Hartford Municipal Short and The Hartford Growth is 0.14 (i.e., Average diversification). The correlation of Hartford Municipal 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 Municipal Correlation With Market

Average diversification

The correlation between Hartford Municipal Short and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hartford Municipal Short 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 Hartford Municipal Short. 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

  0.96HGOFX Hartford GrowthPairCorr
  0.97HGOIX Hartford GrowthPairCorr
  0.96HGORX Hartford GrowthPairCorr
  0.96HGOSX Hartford GrowthPairCorr
  0.96HGOTX Hartford Growth OppoPairCorr
  0.96HGOVX Hartford GrowthPairCorr
  0.96HGOYX Hartford GrowthPairCorr
  0.96HGOAX Hartford GrowthPairCorr
  0.96HGOCX Hartford GrowthPairCorr
  0.89HGXAX 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
  0.95HHHCX Hartford SchrodersPairCorr
  0.95HHHFX Hartford SchrodersPairCorr
  0.95HHHRX Hartford SchrodersPairCorr
  0.95HHHSX Hartford SchrodersPairCorr
  0.95HHHTX Hartford SchrodersPairCorr
  0.88HHMAX The Hartford MunicipalPairCorr
  0.84HHMCX The Hartford MunicipalPairCorr
  0.9HHMFX The Hartford MunicipalPairCorr
  0.89HHMIX The Hartford MunicipalPairCorr
  0.9HHMYX The Hartford MunicipalPairCorr
  0.78HIABX Hartford Total ReturnPairCorr
  0.96HIACX Hartford Capital AppPairCorr
  0.95HIADX Hartford Dividend AndPairCorr
  0.88HIBSX Hartford Stock HlsPairCorr
  0.96HIAGX Hartford DisciplinedPairCorr
  0.92HIAOX Hartford InternationalPairCorr
  0.93HIASX Hartford Small PanyPairCorr
  0.96HIBCX Hartford Capital AppPairCorr
  0.96HILAX Hartford InternationalPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Hartford Mutual Fund performing well and Hartford Municipal 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 Municipal'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
HGOFX  0.80  0.20  0.21  0.38  0.42 
(0.96)
 2.46 
(1.42)
 5.44 
HGOIX  0.82  0.35  0.16 (2.77) 0.61 
(0.95)
 2.45 
(1.42)
 5.45 
HGORX  0.82  0.35  0.16 (2.74) 0.62 
(0.95)
 2.45 
(1.43)
 5.43 
HGOSX  0.80  0.20  0.21  0.38  0.43 
(0.95)
 2.45 
(1.41)
 5.43 
HGOTX  0.80  0.20  0.21  0.38  0.42 
(0.95)
 2.46 
(1.43)
 5.43 
HGOVX  0.80  0.20  0.21  0.38  0.43 
(0.96)
 2.46 
(1.42)
 5.44 
HGOYX  0.80  0.20  0.21  0.38  0.43 
(0.96)
 2.45 
(1.41)
 5.42 
HGOAX  0.82  0.35  0.16 (2.75) 0.62 
(0.95)
 2.45 
(1.43)
 5.43 
HGOCX  0.82  0.35  0.15 (2.73) 0.62 
(0.95)
 2.44 
(1.43)
 5.43 
HGXAX  0.59  0.19  0.01 (2.63) 0.46 
(0.72)
 1.60 
(1.01)
 3.87 

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