The Hartford Correlations

IHAYX Fund

USD 20.46 0.05 0.24%

The current 90-days correlation between Hartford Balanced and The Hartford Balanced is 0.07 (i.e., Significant 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 Balanced and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Hartford Balanced 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 Balanced. 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 population.

Moving together with The Mutual Fund

0.84	HGOFX	Hartford Growth	Pair Corr
0.91	HGOIX	Hartford Growth	Pair Corr
0.84	HGORX	Hartford Growth	Pair Corr
0.91	HGOSX	Hartford Growth	Pair Corr
0.91	HGOTX	Hartford Growth Oppo	Pair Corr
0.91	HGOVX	Hartford Growth	Pair Corr
0.91	HGOYX	Hartford Growth	Pair Corr
0.91	HGOAX	Hartford Growth	Pair Corr
0.79	HGOCX	Hartford Growth	Pair Corr
0.86	HHHCX	Hartford Schroders	Pair Corr
0.86	HHHFX	Hartford Schroders	Pair Corr
0.86	HHHRX	Hartford Schroders	Pair Corr
0.96	HHHSX	Hartford Schroders	Pair Corr
0.86	HHHTX	Hartford Schroders	Pair Corr
0.86	HHHYX	Hartford Schroders	Pair Corr
0.84	HHMAX	The Hartford Municipal	Pair Corr
0.84	HHMCX	The Hartford Municipal	Pair Corr
0.84	HHMFX	The Hartford Municipal	Pair Corr
0.85	HHMIX	The Hartford Municipal	Pair Corr
0.84	HHMYX	The Hartford Municipal	Pair Corr
0.79	HIABX	Hartford Total Return	Pair Corr
0.89	HIACX	Hartford Capital App	Pair Corr
0.86	HIADX	Hartford Dividend And	Pair Corr
0.85	HIAGX	Hartford Disciplined	Pair Corr
0.77	HIAHX	Hartford Healthcare Hls	Pair Corr
0.87	HIAOX	Hartford International	Pair Corr
0.81	HIASX	Hartford Small Pany	Pair Corr
0.88	HIBCX	Hartford Capital App	Pair Corr

Related Correlations Analysis

	ITTIX	ITTAX	HAFCX	LCRIX	SLIYX	PRNIX	PQNAX	SVOAX	BIT	WHGIX
ITTIX		0.89	0.89	0.56	0.77	-0.3	-0.31	-0.18	-0.54	0.88	ITTIX
ITTAX	0.89		1.0	0.52	0.73	-0.32	-0.33	-0.17	-0.56	0.85	ITTAX
HAFCX	0.89	1.0		0.53	0.74	-0.3	-0.31	-0.16	-0.55	0.85	HAFCX
LCRIX	0.56	0.52	0.53		0.38	0.09	0.09	0.11	-0.38	0.67	LCRIX
SLIYX	0.77	0.73	0.74	0.38		0.04	0.03	0.14	-0.28	0.78	SLIYX
PRNIX	-0.3	-0.32	-0.3	0.09	0.04		1.0	0.83	0.33	-0.22	PRNIX
PQNAX	-0.31	-0.33	-0.31	0.09	0.03	1.0		0.83	0.34	-0.23	PQNAX
SVOAX	-0.18	-0.17	-0.16	0.11	0.14	0.83	0.83		0.21	-0.07	SVOAX
BIT	-0.54	-0.56	-0.55	-0.38	-0.28	0.33	0.34	0.21		-0.58	BIT
WHGIX	0.88	0.85	0.85	0.67	0.78	-0.22	-0.23	-0.07	-0.58		WHGIX
	ITTIX	ITTAX	HAFCX	LCRIX	SLIYX	PRNIX	PQNAX	SVOAX	BIT	WHGIX

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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

HAFCX	+ 1.0	ITTAX
PQNAX	+ 1.0	PRNIX
ITTAX	+ 0.89	ITTIX
HAFCX	+ 0.89	ITTIX
WHGIX	+ 0.88	ITTIX
WHGIX	+ 0.85	ITTAX

High negative correlations

WHGIX	- 0.58	BIT
BIT	- 0.56	ITTAX
BIT	- 0.55	HAFCX
BIT	- 0.54	ITTIX
BIT	- 0.38	LCRIX
PQNAX	- 0.33	ITTAX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ITTIX	0.20	0.04	(0.07)	(5.20)	0.15	(0.22)	0.51	(0.41)	1.64
ITTAX	0.20	0.02	(0.08)	0.12	0.15	(0.22)	0.50	(0.40)	1.53
HAFCX	0.20	0.01	(0.09)	0.11	0.18	(0.21)	0.49	(0.39)	1.56
LCRIX	0.47	(0.11)	0.00	(0.06)	0.00	0.00	0.76	(0.62)	8.54
SLIYX	0.10	0.00	(0.31)	0.07	0.00	(0.17)	0.29	(0.20)	0.69
PRNIX	0.72	(0.09)	(0.08)	(0.01)	0.94	(0.74)	1.41	(1.23)	6.73
PQNAX	0.72	(0.09)	0.00	(0.01)	0.00	0.00	1.40	(1.24)	6.76
SVOAX	0.38	(0.04)	(0.14)	(0.01)	0.46	(0.44)	0.94	(0.79)	2.40
BIT	0.50	(0.13)	0.00	(0.44)	0.00	0.00	0.83	(0.99)	4.34
WHGIX	0.26	0.01	(0.06)	0.10	0.24	(0.30)	0.64	(0.49)	1.92

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