Looking to diversify beyond HEIIX? The mutual funds below have historically moved differently from HEIIX, 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 HEIIX
2 mutual funds have low correlation with HEIIX (below 0.3), 0 of which are negatively correlated. The least correlated is Hennessy Energy Transition Fund (HNRIX) (Energy Equities) with a 1Y correlation of 0.03, down from 0.37 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Hennessy Energy Transition Fund | 0.03 | 0.28 | 0.37 | 72 | Energy Equities | HEIIX vs HNRIX | |
| MH Elite Small Cap Fund of Funds Fund | 0.07 | 0.13 | 0.46 | 66 | Diversified Portfolio | HEIIX vs MHELX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.33 | 0.50 | 0.55 | 91 | Diversified Portfolio | HEIIX vs FIQDX | |
| Fidelity Strategic Real Return Fund Class K6 | 0.33 | 0.51 | 0.56 | 91 | Diversified Portfolio | HEIIX vs FSRKX | |
| Fidelity Strategic Real Return Fund | 0.34 | 0.51 | 0.56 | 95 | Diversified Portfolio | HEIIX vs FSRRX |
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