Looking to diversify beyond HCPIX? The mutual funds below have historically moved differently from HCPIX, 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 HCPIX
7 mutual funds have low correlation with HCPIX (below 0.3), 1 of which are negatively correlated. The least correlated is ProFunds UltraSector Oil & Gas Fund (ENPIX) (Leveraged Equities) with a 1Y correlation of -0.01, down from 0.20 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProFunds UltraSector Oil & Gas Fund | -0.01 | 0.13 | 0.20 | 63 | Leveraged Equities | HCPIX vs ENPIX | |
| ProFunds UltraLatin America Fund | 0.06 | 0.19 | 0.24 | 85 | Leveraged Equities | HCPIX vs UBPIX | |
| ProFunds UltraJapan Fund | 0.09 | 0.23 | 0.33 | 88 | Leveraged Equities | HCPIX vs UJPIX | |
| Rydex Japan 2x Strategy Fund | 0.13 | 0.28 | 0.37 | 62 | Leveraged Equities | HCPIX vs RYJSX | |
| Rydex Russell 2000 2x Strategy Fund | 0.29 | 0.42 | 0.51 | 65 | Leveraged Equities | HCPIX vs RYRUX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for HCPIX, 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 Old Republic International Corporation (ORI) (Financial Services) with a 1Y correlation of 0.36, roughly unchanged from 0.43 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Old Republic International Corporation | 0.36 | 0.40 | 0.43 | 77 | Financial Services |
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