Looking to diversify beyond HCAYX? The mutual funds below have historically moved differently from HCAYX, 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 HCAYX
1 mutual funds have low correlation with HCAYX (below 0.3), 0 of which are negatively correlated. The least correlated is Hartford Municipal Opportunities Fund (HHMIX) (Municipal Bonds) with a 1Y correlation of 0.22, roughly unchanged from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Hartford Municipal Opportunities Fund | 0.22 | 0.15 | 0.13 | 55 | Municipal Bonds | HCAYX vs HHMIX | |
| Goldman Sachs Strategic Volatility Premium Fund | 0.36 | 0.16 | 0.14 | 96 | Large Cap Blend Equities | HCAYX vs SVPFX | |
| The Hartford Equity Income Fund | 0.52 | 0.67 | 0.76 | 80 | Dividend, Large Cap Value Equities | HCAYX vs HQIYX | |
| North Square Preferred and Income Securities Fund | 0.53 | 0.36 | 0.42 | 54 | Preferred Stock | HCAYX vs ORDNX | |
| Rock Oak Core Growth Fund | 0.60 | 0.74 | 0.84 | 91 | Large Cap Blend Equities | HCAYX vs RCKSX |
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