Looking to diversify beyond HCVAX? The mutual funds below have the lowest correlation with HCVAX — 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 HCVAX.
Best Diversifiers for HCVAX
2 mutual funds have low correlation with HCVAX (below 0.3), 1 of which are negatively correlated. The least correlated is SEI Institutional Managed Trust Multi-Asset Inflation Managed Fund (SIFAX) (Diversified Portfolio) with a 1Y correlation of -0.15, down from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Multi-Asset Inflat... | -0.15 | 0.04 | 0.16 | 58 | Diversified Portfolio | HCVAX vs SIFAX | |
| MH Elite Small Cap Fund of Funds Fund | 0.02 | 0.15 | 0.44 | 69 | Diversified Portfolio | HCVAX vs MHELX | |
| Hartford Municipal Opportunities Fund | 0.35 | 0.36 | 0.33 | 68 | Municipal Bonds | HCVAX vs HHMIX | |
| Concorde Wealth Management Fund | 0.38 | 0.55 | 0.65 | 71 | Diversified Portfolio | HCVAX vs CONWX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.43 | 0.59 | 0.63 | 83 | Diversified Portfolio | HCVAX vs FIQDX |
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