Looking to diversify beyond HCKAX? The mutual funds below have the lowest correlation with HCKAX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from HCKAX.
Best Diversifiers for HCKAX
2 mutual funds have low correlation with HCKAX (below 0.3), 0 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 0.50 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MH Elite Small Cap Fund of Funds Fund | 0.03 | 0.17 | 0.50 | 67 | Diversified Portfolio | HCKAX vs MHELX | |
| Hartford Municipal Opportunities Fund | 0.28 | 0.25 | 0.20 | 67 | Municipal Bonds | HCKAX vs HHMIX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.37 | 0.56 | 0.62 | 86 | Diversified Portfolio | HCKAX vs FSIRX | |
| Fidelity Strategic Real Return Fund | 0.39 | 0.56 | 0.62 | 87 | Diversified Portfolio | HCKAX vs FSRRX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.39 | 0.56 | 0.61 | 82 | Diversified Portfolio | HCKAX vs FCSRX |
See all 30 diversifiers for HCKAX
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