Looking to diversify beyond HFAAX? The mutual funds below have historically moved differently from HFAAX, 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 HFAAX
1 mutual funds have low correlation with HFAAX (below 0.3), 0 of which are negatively correlated. The least correlated is Columbia Floating Rate Fund (RFRAX) (Bank Loan) with a 1Y correlation of 0.25, roughly unchanged from 0.16 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Columbia Floating Rate Fund | 0.25 | 0.15 | 0.16 | 78 | Bank Loan | HFAAX vs RFRAX | |
| DFA Two Year Global Fixed Income Portfolio | 0.31 | 0.06 | 0.35 | 100 | Global Bonds | HFAAX vs DFGFX | |
| Eaton Vance Global Bond Fund | 0.46 | 0.67 | 0.59 | 97 | Global Bonds | HFAAX vs EAIIX | |
| Destinations Global Fixed Income Opportunities Fun... | 0.47 | 0.49 | 0.46 | 98 | Global Bonds | HFAAX vs DGFFX | |
| Invesco AMT-Free Municipal Fund | 0.50 | 0.59 | 0.57 | 73 | Municipal Bonds | HFAAX vs OPTAX |
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