Looking to diversify beyond HCPIX? The mutual funds below have the lowest correlation with HCPIX — 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 HCPIX.
Best Diversifiers for HCPIX
6 mutual funds have low correlation with HCPIX (below 0.3), 2 of which are negatively correlated. The least correlated is ProFunds Semiconductor UltraSector Fund Investor Class (SMPIX) (Leveraged Equities) with a 1Y correlation of -0.10, down from 0.27 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProFunds Semiconductor UltraSector Fund Investor C... | -0.10 | 0.10 | 0.27 | 76 | Leveraged Equities, Semiconductors, Technology Equities | HCPIX vs SMPIX | |
| ProFunds Technology UltraSector Fund | -0.02 | 0.20 | 0.39 | 56 | Leveraged Equities | HCPIX vs TEPIX | |
| ProFunds UltraLatin America Fund | 0.11 | 0.20 | 0.25 | 65 | Leveraged Equities | HCPIX vs UBPIX | |
| ProFunds UltraJapan Fund | 0.15 | 0.26 | 0.35 | 93 | Leveraged Equities | HCPIX vs UJPIX | |
| Rydex Japan 2x Strategy Fund | 0.19 | 0.29 | 0.38 | 74 | Leveraged Equities | HCPIX vs RYJSX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HCPIX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HCPIX and solid risk/return profiles. The least correlated is Old Republic International Corporation (ORI) (Financial Services) with a 1Y correlation of 0.35, roughly unchanged from 0.43 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Old Republic International Corporation | 0.35 | 0.39 | 0.43 | 72 | Financial Services |
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