Hartford Ultrashort Correlations

HUBAX Fund

USD 10.57 0.01 0.09%

The current 90-days correlation between Hartford Ultrashort Bond and Sit Government Securities is 0.55 (i.e., Very weak diversification). The correlation of Hartford Ultrashort 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 Ultrashort Correlation With Market

Very good diversification

The correlation between Hartford Ultrashort Bond and DJI is -0.34 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hartford Ultrashort Bond 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 Ultrashort Bond. 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 nation.

Moving together with HARTFORD Mutual Fund

0.75

HIPAX

The Hartford Inflation

Pair Corr

Moving against HARTFORD Mutual Fund

0.58	HHMCX	The Hartford Municipal	Pair Corr
0.56	HHMAX	The Hartford Municipal	Pair Corr
0.55	HGORX	Hartford Growth	Pair Corr
0.55	HGOSX	Hartford Growth	Pair Corr
0.55	HGOCX	Hartford Growth	Pair Corr
0.54	HGOFX	Hartford Growth	Pair Corr
0.54	HGOIX	Hartford Growth	Pair Corr
0.54	HGOTX	Hartford Growth Oppo	Pair Corr
0.54	HGOVX	Hartford Growth	Pair Corr
0.54	HGOYX	Hartford Growth	Pair Corr
0.54	HGOAX	Hartford Growth	Pair Corr
0.54	HHMIX	The Hartford Municipal	Pair Corr
0.54	HHMYX	The Hartford Municipal	Pair Corr
0.51	HHMFX	The Hartford Municipal	Pair Corr
0.84	HIAHX	Hartford Healthcare Hls	Pair Corr
0.68	HISCX	Hartford Small Cap	Pair Corr
0.6	STWTX	Hartford Schroders Tax	Pair Corr
0.59	HIACX	Hartford Capital App	Pair Corr
0.59	HIBCX	Hartford Capital App	Pair Corr
0.55	HIBSX	Hartford Stock Hls	Pair Corr
0.55	HIASX	Hartford Small Pany	Pair Corr
0.49	HIADX	Hartford Dividend And	Pair Corr
0.45	HIAGX	Hartford Disciplined	Pair Corr
0.43	HIMCX	Hartford Midcap Hls	Pair Corr

Related Correlations Analysis

	SNGYX	UGSDX	FCSCX	CGTFX	IVMXX	SIGVX	USGFX
SNGYX		0.59	0.83	0.98	0.53	0.81	0.99	SNGYX
UGSDX	0.59		0.89	0.61	0.6	0.92	0.62	UGSDX
FCSCX	0.83	0.89		0.87	0.75	0.98	0.87	FCSCX
CGTFX	0.98	0.61	0.87		0.58	0.83	1.0	CGTFX
IVMXX	0.53	0.6	0.75	0.58		0.74	0.58	IVMXX
SIGVX	0.81	0.92	0.98	0.83	0.74		0.83	SIGVX
USGFX	0.99	0.62	0.87	1.0	0.58	0.83		USGFX
	SNGYX	UGSDX	FCSCX	CGTFX	IVMXX	SIGVX	USGFX

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Risk-Adjusted Indicators

There is a big difference between HARTFORD Mutual Fund performing well and Hartford Ultrashort 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 Ultrashort'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
SNGYX	0.22	0.02	0.26	(0.42)	0.18	(0.27)	0.49	(0.48)	1.27
UGSDX	0.03	0.01	0.00	1.11	0.00	0.00	0.00	0.00	0.52
FCSCX	0.07	0.01	0.44	(0.60)	0.00	(0.22)	0.13	(0.13)	0.67
CGTFX	0.33	0.03	0.21	(0.46)	0.32	(0.36)	0.60	(0.66)	1.83
IVMXX	0.03	0.01	0.00	0.93	0.00	0.00	0.00	0.00	1.01
SIGVX	0.06	0.01	0.60	(2.44)	0.00	(0.17)	0.10	(0.10)	0.61
USGFX	0.32	0.03	0.22	(0.50)	0.31	(0.35)	0.68	(0.59)	1.66

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