Looking to diversify beyond FHOFX? The mutual funds below have historically moved differently from FHOFX, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for FHOFX
0 mutual funds have low correlation with FHOFX (below 0.3), 0 of which are negatively correlated. The least correlated is Provident Trust Strategy Fund (PROVX) (Large Cap Growth Equities) with a 1Y correlation of 0.51, down from 0.78 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Provident Trust Strategy Fund | 0.51 | 0.65 | 0.78 | 51 | Large Cap Growth Equities | FHOFX vs PROVX | |
| Davis New York Venture Fund Class Y | 0.59 | 0.67 | 0.75 | 91 | Large Cap Growth Equities | FHOFX vs DNVYX | |
| ICON Equity Fund | 0.60 | 0.56 | 0.68 | 79 | Large Cap Growth Equities | FHOFX vs IOLZX | |
| American Growth Fund Series One | 0.65 | 0.73 | 0.81 | 55 | Large Cap Growth Equities | FHOFX vs AMRGX | |
| Fidelity International Index Fund | 0.65 | 0.59 | 0.65 | 64 | Foreign Large Cap Equities | FHOFX vs FSPSX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FHOFX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Taiwan Semiconductor Manufacturing Company Limited (TSM) (Technology) with a 1Y correlation of 0.67, roughly unchanged from 0.67 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Taiwan Semiconductor Manufacturing Company Limited | 0.67 | 0.67 | 0.67 | 88 | Technology |
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