The Hartford Correlations

HCVTX Fund

USD 10.41 0.00 0.00%

The current 90-days correlation between The Hartford Servative and Vanguard Wellesley Income is 0.09 (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

Good diversification

The correlation between The Hartford Servative and NYA is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Hartford Servative and NYA in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios. 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 The Mutual Fund

0.82	HHHCX	Hartford Schroders	Pair Corr
0.76	HHHSX	Hartford Schroders	Pair Corr
0.76	HHHTX	Hartford Schroders	Pair Corr
0.74	HHMCX	The Hartford Municipal	Pair Corr
0.83	HIBSX	Hartford Stock Hls	Pair Corr
0.86	HMDFX	Hartford Midcap	Pair Corr
0.8	HMDYX	Hartford Midcap	Pair Corr
0.79	HMVJX	Hartford Midcap	Pair Corr
0.83	HMVTX	Hartford Midcap	Pair Corr
0.89	HNCAX	Hartford Interna	Pair Corr
0.79	HNCSX	Hartford Interna	Pair Corr

Related Correlations Analysis

	VWINX	VWIAX	444859BR2	MSTSX	ABHYX	VIASP	GBEI	KNG	KNF	AMPL
VWINX		0.99	0.5	0.95	0.8	0.82	-0.12	0.6	-0.33	-0.07	VWINX
VWIAX	0.99		0.53	0.94	0.81	0.8	-0.13	0.61	-0.32	-0.08	VWIAX
444859BR2	0.5	0.53		0.4	0.68	0.12	-0.69	0.4	-0.19	-0.48	444859BR2
MSTSX	0.95	0.94	0.4		0.7	0.77	0.03	0.65	-0.22	-0.08	MSTSX
ABHYX	0.8	0.81	0.68	0.7		0.59	-0.27	0.34	-0.41	-0.24	ABHYX
VIASP	0.82	0.8	0.12	0.77	0.59		0.13	0.27	-0.44	0.28	VIASP
GBEI	-0.12	-0.13	-0.69	0.03	-0.27	0.13		-0.21	0.01	0.41	GBEI
KNG	0.6	0.61	0.4	0.65	0.34	0.27	-0.21		0.44	-0.26	KNG
KNF	-0.33	-0.32	-0.19	-0.22	-0.41	-0.44	0.01	0.44		-0.13	KNF
AMPL	-0.07	-0.08	-0.48	-0.08	-0.24	0.28	0.41	-0.26	-0.13		AMPL
	VWINX	VWIAX	444859BR2	MSTSX	ABHYX	VIASP	GBEI	KNG	KNF	AMPL

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

VWIAX	+ 0.99	VWINX
MSTSX	+ 0.95	VWINX
MSTSX	+ 0.94	VWIAX
VIASP	+ 0.82	VWINX
ABHYX	+ 0.81	VWIAX
ABHYX	+ 0.8	VWINX

High negative correlations

GBEI	- 0.69	444859BR2
AMPL	- 0.48	444859BR2
KNF	- 0.44	VIASP
KNF	- 0.41	ABHYX
KNF	- 0.33	VWINX
KNF	- 0.32	VWIAX

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
VWINX	0.32	0.03	0.02	0.09	0.36	(0.33)	0.71	(0.75)	2.04
VWIAX	0.34	0.03	0.02	0.08	0.41	(0.36)	0.74	(0.76)	2.11
444859BR2	0.46	0.00	(0.04)	0.02	0.64	(0.45)	1.00	(1.17)	2.67
MSTSX	0.56	0.02	0.02	0.05	0.75	(0.58)	1.03	(1.19)	3.76
ABHYX	0.19	0.03	0.00	0.30	0.05	(0.24)	0.46	(0.35)	1.03
VIASP	1.46	0.32	0.14	0.22	2.06	(1.55)	3.96	(2.60)	15.71
GBEI	1.29	0.14	0.00	(0.03)	0.00	0.00	0.00	0.00	56.27
KNG	0.48	(0.01)	(0.03)	0.01	0.65	(0.45)	0.81	(1.08)	2.86
KNF	1.35	(0.10)	0.00	(0.04)	0.00	0.00	2.92	(3.45)	9.23
AMPL	2.93	0.19	0.03	1.36	4.29	(3.22)	7.08	(8.00)	30.99

The Hartford Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with The Hartford mutual fund to make a market-neutral strategy. Peer analysis of The Hartford could also be used in its relative valuation, which is a method of valuing The Hartford by comparing valuation metrics with similar companies.

Vanguard Wellesley Income Vanguard Wellesley Income HUMANA INC Morningstar Unconstrained Allocation High Yield Municipal Fund Via Renewables Great Basin Energies FT Cboe Vest Knife River Ampleforth American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

Correlation

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC