Hartford Small Correlations

Mutual Funds . USA . 
Fund . Hartford Small Cap
HSMTX Fund  USD 13.48  0.18  1.35%   
The current 90-days correlation between Hartford Small Cap and The Hartford Growth is -0.02 (i.e., Good diversification). The correlation of Hartford Small 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 Small Correlation With Market

Very poor diversification

The correlation between Hartford Small Cap and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hartford Small Cap 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 Small Cap. 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 estimate.

Moving together with Hartford Mutual Fund

  0.71HGXAX Hartford Global ImpactPairCorr
  0.71HGXCX Hartford Global ImpactPairCorr
  0.71HGXFX Hartford Global ImpactPairCorr
  0.71HGXIX Hartford Global ImpactPairCorr
  0.71HGXRX Hartford Global ImpactPairCorr
  0.71HGXSX Hartford Global ImpactPairCorr
  0.71HGXTX Hartford Global ImpactPairCorr
  0.71HGXVX Hartford Global ImpactPairCorr
  0.71HGXYX Hartford Global ImpactPairCorr
  0.74HIADX Hartford Dividend AndPairCorr
  0.69HIBSX Hartford Stock HlsPairCorr
  0.71HIAHX Hartford Healthcare HlsPairCorr
  0.88HIASX Hartford Small PanyPairCorr
  0.74HILAX Hartford InternationalPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Hartford Mutual Fund performing well and Hartford Small 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 Small'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
HGOFX  1.12  0.01 (0.05)(0.37) 1.81 
(0.97)
 2.51 
(3.13)
 7.03 
HGOIX  1.12  0.01 (0.05)(0.37) 1.82 
(0.97)
 2.52 
(3.14)
 7.01 
HGORX  1.12  0.01 (0.05)(0.27) 1.82 
(0.97)
 2.52 
(3.13)
 7.04 
HGOSX  1.12  0.01 (0.05)(0.31) 1.78 
(0.97)
 2.52 
(3.12)
 7.03 
HGOTX  1.12 (0.11)(0.05) 0.00  1.82 
(0.96)
 2.51 
(3.14)
 7.04 
HGOVX  1.12  0.01 (0.05)(0.36) 1.82 
(0.97)
 2.52 
(3.12)
 7.03 
HGOYX  1.08  0.00 (0.05) 0.12  1.68 
(0.96)
 2.52 
(2.80)
 7.05 
HGOAX  1.12 (0.11)(0.05) 0.00  1.82 
(0.96)
 2.52 
(3.13)
 7.05 
HGOCX  1.13  0.01 (0.05)(0.18) 1.82 
(0.97)
 2.52 
(3.19)
 7.00 
HGXAX  0.70  0.13  0.04  1.84  0.75 
(0.78)
 1.54 
(1.47)
 4.52 

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