Hartford Multifactor Correlations

RODM Etf

USD 36.57 0.04 0.11%

The current 90-days correlation between Hartford Multifactor and Goldman Sachs ActiveBeta is 0.54 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Hartford Multifactor moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hartford Multifactor Developed moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Hartford Multifactor Correlation With Market

Significant diversification

The correlation between Hartford Multifactor Developed and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hartford Multifactor Developed and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Hartford Etf

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Hartford Multifactor Developed. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in consumer price index.

Moving together with Hartford Etf

0.92	EFV	iShares MSCI EAFE	Pair Corr
0.84	FNDF	Schwab Fundamental	Pair Corr
0.74	VYMI	Vanguard International	Pair Corr
0.87	IDV	iShares International	Pair Corr
0.93	DFIV	Dimensional International	Pair Corr
0.93	IVLU	iShares Edge MSCI	Pair Corr
0.63	PXF	Invesco FTSE RAFI	Pair Corr
0.91	HDEF	Xtrackers MSCI EAFE	Pair Corr
0.83	PID	Invesco International	Pair Corr
0.71	BUFF	Innovator Laddered	Pair Corr
0.8	AIVI	WisdomTree International	Pair Corr
0.77	DUSA	Davis Select Equity	Pair Corr
0.63	MRK	Merck Company	Pair Corr
0.67	MMM	3M Company	Pair Corr
0.68	DD	Dupont De Nemours	Pair Corr
0.62	KO	Coca Cola	Pair Corr

Moving against Hartford Etf

0.4	IBLC	iShares Blockchain and	Pair Corr
0.36	SOCL	Global X Social	Pair Corr
0.31	WTRE	WisdomTree New Economy	Pair Corr

Related Correlations Analysis

	GEM	GSUS	XCEM	SCHY	SPGM	EMGF	DHS	GLOV	IYK	JEMA
GEM		0.76	0.96	0.55	0.91	0.91	0.02	0.39	-0.4	0.85	GEM
GSUS	0.76		0.77	0.45	0.79	0.68	0.02	0.64	-0.43	0.69	GSUS
XCEM	0.96	0.77		0.61	0.89	0.88	0.0	0.33	-0.42	0.86	XCEM
SCHY	0.55	0.45	0.61		0.67	0.47	0.58	0.62	-0.08	0.67	SCHY
SPGM	0.91	0.79	0.89	0.67		0.82	0.26	0.6	-0.37	0.86	SPGM
EMGF	0.91	0.68	0.88	0.47	0.82		-0.09	0.33	-0.38	0.94	EMGF
DHS	0.02	0.02	0.0	0.58	0.26	-0.09		0.55	0.48	0.1	DHS
GLOV	0.39	0.64	0.33	0.62	0.6	0.33	0.55		-0.03	0.45	GLOV
IYK	-0.4	-0.43	-0.42	-0.08	-0.37	-0.38	0.48	-0.03		-0.38	IYK
JEMA	0.85	0.69	0.86	0.67	0.86	0.94	0.1	0.45	-0.38		JEMA
	GEM	GSUS	XCEM	SCHY	SPGM	EMGF	DHS	GLOV	IYK	JEMA

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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

XCEM	+ 0.96	GEM
JEMA	+ 0.94	EMGF
SPGM	+ 0.91	GEM
EMGF	+ 0.91	GEM
SPGM	+ 0.89	XCEM
EMGF	+ 0.88	XCEM

High negative correlations

IYK	- 0.43	GSUS
IYK	- 0.42	XCEM
IYK	- 0.4	GEM
JEMA	- 0.38	IYK
IYK	- 0.38	EMGF
IYK	- 0.37	SPGM

Hartford Multifactor Constituents Risk-Adjusted Indicators

There is a big difference between Hartford Etf performing well and Hartford Multifactor ETF 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 Multifactor'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
GEM	0.64	0.10	0.03	(48.69)	0.85	(0.67)	1.39	(1.22)	4.86
GSUS	0.54	0.02	0.01	0.09	0.79	(0.50)	1.22	(1.27)	3.46
XCEM	0.64	0.13	0.06	(10.03)	0.83	(0.64)	1.20	(1.37)	4.72
SCHY	0.45	0.07	0.00	14.32	0.33	(0.50)	1.04	(0.70)	2.26
SPGM	0.53	0.08	0.02	1.13	0.80	(0.51)	1.08	(1.26)	3.50
EMGF	0.65	0.00	0.02	0.00	0.88	(0.67)	1.22	(1.23)	4.67
DHS	0.50	0.02	(0.09)	(0.40)	0.51	(0.57)	1.17	(0.92)	2.44
GLOV	0.38	(0.02)	(0.09)	0.04	0.40	(0.42)	0.84	(0.67)	2.41
IYK	0.59	(0.05)	0.00	0.85	0.00	0.00	1.31	(1.13)	3.41
JEMA	0.71	0.14	0.07	(3.32)	0.89	(0.78)	1.42	(1.22)	5.23

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