The Hartford Correlations

Mutual Funds . USA . 
Fund . The Hartford Midcap
HMVCX Fund  USD 10.77  0.01  0.09%   
The current 90-days correlation between Hartford Midcap and T Rowe Price is -0.22 (i.e., Very good 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

Poor diversification

The correlation between The Hartford Midcap and DJI is 0.73 (i.e., Poor 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

  0.97HGOFX Hartford GrowthPairCorr
  0.8HGOIX Hartford GrowthPairCorr
  0.8HGORX Hartford GrowthPairCorr
  0.97HGOSX Hartford GrowthPairCorr
  0.97HGOTX Hartford Growth OppoPairCorr
  0.97HGOVX Hartford GrowthPairCorr
  0.97HGOYX Hartford GrowthPairCorr
  0.8HGOAX Hartford GrowthPairCorr
  0.8HGOCX Hartford GrowthPairCorr
  0.96HGXAX Hartford Global ImpactPairCorr
  0.96HGXCX Hartford Global ImpactPairCorr
  0.96HGXFX Hartford Global ImpactPairCorr
  0.96HGXIX Hartford Global ImpactPairCorr
  0.96HGXSX Hartford Global ImpactPairCorr
  0.96HGXTX Hartford Global ImpactPairCorr
  0.96HGXVX Hartford Global ImpactPairCorr
  0.96HGXYX Hartford Global ImpactPairCorr
  0.84HHHCX Hartford SchrodersPairCorr
  0.96HHHFX Hartford SchrodersPairCorr
  0.84HHHRX Hartford SchrodersPairCorr
  0.84HHHSX Hartford SchrodersPairCorr
  0.84HHHTX Hartford SchrodersPairCorr
  0.62HHHYX Hartford SchrodersPairCorr
  0.71HHMAX The Hartford MunicipalPairCorr
  0.67HHMCX The Hartford MunicipalPairCorr
  0.72HHMFX The Hartford MunicipalPairCorr
  0.72HHMIX The Hartford MunicipalPairCorr
  0.72HHMYX The Hartford MunicipalPairCorr
  0.61HIABX Hartford Total ReturnPairCorr
  0.83HIACX Hartford Capital AppPairCorr
  0.8HIADX Hartford Dividend AndPairCorr
  0.76HIBSX Hartford Stock HlsPairCorr
  0.83HIAGX Hartford DisciplinedPairCorr
  0.78HIAOX Hartford InternationalPairCorr
  0.79HIASX Hartford Small PanyPairCorr
  0.98HIBCX Hartford Capital AppPairCorr
  0.61HIMCX Hartford Midcap HlsPairCorr
  0.93HILAX 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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