Hartford Midcap Correlations

HMDCX Fund

USD 19.93 0.25 1.27%

The current 90-days correlation between Hartford Midcap and T Rowe Price is 0.25 (i.e., Modest diversification). The correlation of Hartford Midcap 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 Midcap Correlation With Market

Average diversification

The correlation between The Hartford Midcap and DJI is 0.14 (i.e., Average 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 manufacturing.

Moving together with Hartford Mutual Fund

0.88	HGOFX	Hartford Growth	Pair Corr
0.91	HGORX	Hartford Growth	Pair Corr
0.88	HGOSX	Hartford Growth	Pair Corr
0.85	HGOTX	Hartford Growth Oppo	Pair Corr
0.85	HGOYX	Hartford Growth	Pair Corr
0.9	HGOAX	Hartford Growth	Pair Corr
0.76	HGOCX	Hartford Growth	Pair Corr
0.76	HIAOX	Hartford International	Pair Corr
0.76	HILAX	Hartford International	Pair Corr
0.87	HILDX	Hartford International	Pair Corr
0.76	HILIX	Hartford International	Pair Corr
0.88	HILRX	Hartford International	Pair Corr
0.76	HILSX	Hartford International	Pair Corr

Moving against Hartford Mutual Fund

0.65	HIPCX	The Hartford Inflation	Pair Corr
0.65	HIPRX	The Hartford Inflation	Pair Corr
0.64	HIPAX	The Hartford Inflation	Pair Corr
0.64	HIPFX	The Hartford Inflation	Pair Corr
0.62	HIPIX	The Hartford Inflation	Pair Corr
0.61	HIPSX	The Hartford Inflation	Pair Corr

Related Correlations Analysis

	PRDMX	CSRSX	HRAUX	HAGAX	PRSGX	SHRAX	TBGVX	SMVLX	BDSKX	WMGYX
PRDMX		-0.14	0.36	0.35	0.67	0.86	0.83	0.54	0.83	0.15	PRDMX
CSRSX	-0.14		0.45	0.45	-0.02	-0.36	-0.37	0.02	-0.21	0.65	CSRSX
HRAUX	0.36	0.45		1.0	0.56	0.04	-0.02	0.28	0.35	0.9	HRAUX
HAGAX	0.35	0.45	1.0		0.54	0.03	-0.03	0.27	0.34	0.91	HAGAX
PRSGX	0.67	-0.02	0.56	0.54		0.55	0.63	0.8	0.85	0.26	PRSGX
SHRAX	0.86	-0.36	0.04	0.03	0.55		0.91	0.57	0.79	-0.19	SHRAX
TBGVX	0.83	-0.37	-0.02	-0.03	0.63	0.91		0.68	0.89	-0.28	TBGVX
SMVLX	0.54	0.02	0.28	0.27	0.8	0.57	0.68		0.82	-0.01	SMVLX
BDSKX	0.83	-0.21	0.35	0.34	0.85	0.79	0.89	0.82		0.03	BDSKX
WMGYX	0.15	0.65	0.9	0.91	0.26	-0.19	-0.28	-0.01	0.03		WMGYX
	PRDMX	CSRSX	HRAUX	HAGAX	PRSGX	SHRAX	TBGVX	SMVLX	BDSKX	WMGYX

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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

HAGAX	+ 1.0	HRAUX
WMGYX	+ 0.91	HAGAX
TBGVX	+ 0.91	SHRAX
WMGYX	+ 0.9	HRAUX
BDSKX	+ 0.89	TBGVX
SHRAX	+ 0.86	PRDMX

High negative correlations

TBGVX	- 0.37	CSRSX
SHRAX	- 0.36	CSRSX
WMGYX	- 0.28	TBGVX
BDSKX	- 0.21	CSRSX
WMGYX	- 0.19	SHRAX
CSRSX	- 0.14	PRDMX

Risk-Adjusted Indicators

There is a big difference between Hartford Mutual Fund performing well and Hartford Midcap 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 Midcap'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
PRDMX	0.98	0.09	0.02	(0.52)	1.11	(1.08)	1.45	(2.08)	8.58
CSRSX	0.57	(0.03)	0.00	1.81	0.00	0.00	1.14	(1.57)	3.85
HRAUX	0.82	(0.04)	0.00	0.78	0.00	0.00	1.42	(1.71)	4.17
HAGAX	0.82	(0.04)	0.00	0.85	0.00	0.00	1.41	(1.70)	4.17
PRSGX	0.58	0.02	(0.04)	0.27	0.84	(0.57)	1.21	(1.09)	3.14
SHRAX	1.36	0.28	0.25	0.18	0.89	(1.61)	1.47	(2.34)	30.74
TBGVX	0.59	0.20	0.27	0.53	0.00	(0.70)	1.00	(0.81)	12.58
SMVLX	0.74	0.01	(0.04)	0.24	0.93	(0.77)	1.90	(1.45)	3.77
BDSKX	1.11	0.09	0.03	1.04	1.25	(1.20)	2.15	(1.98)	6.88
WMGYX	0.86	(0.08)	0.00	(0.76)	0.00	0.00	1.43	(2.02)	4.04

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