Looking to diversify beyond HBFBX? The mutual funds below have historically moved differently from HBFBX, 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 HBFBX
24 mutual funds have low correlation with HBFBX (below 0.3), 1 of which are negatively correlated. The least correlated is MH Elite Small Cap Fund of Funds Fund (MHELX) (Diversified Portfolio) with a 1Y correlation of -0.03, down from 0.35 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MH Elite Small Cap Fund of Funds Fund | -0.03 | 0.08 | 0.35 | 66 | Diversified Portfolio | HBFBX vs MHELX | |
| AB Emerging Markets Multi-Asset Portfolio | 0.01 | 0.25 | 0.34 | 64 | Diversified Portfolio | HBFBX vs ABIEX | |
| Allspring Diversified Capital Builder Fund | 0.05 | 0.29 | 0.47 | 91 | Diversified Portfolio | HBFBX vs EKBAX | |
| Hennessy Technology Fund | 0.06 | 0.31 | 0.44 | 61 | Technology Equities | HBFBX vs HTECX | |
| Standpoint Multi-Asset Fund Institutional | 0.09 | 0.31 | 0.39 | 89 | Diversified Portfolio | HBFBX vs BLNDX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for HBFBX, 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 Gilead Sciences, Inc. (GILD) (Healthcare) with a 1Y correlation of 0.39, roughly unchanged from 0.45 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Gilead Sciences, Inc. | 0.39 | 0.44 | 0.45 | 65 | Healthcare |
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