Looking to diversify beyond HFCGX? The mutual funds below have the lowest correlation with HFCGX — 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 HFCGX.
Best Diversifiers for HFCGX
2 mutual funds have low correlation with HFCGX (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 0.09, down from 0.60 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Hennessy Energy Transition Fund | 0.09 | 0.42 | 0.60 | 66 | Energy Equities | HFCGX vs HNRIX | |
| Federated Hermes MDT Small Cap Core Fund | 0.13 | 0.58 | 0.69 | 51 | Small Cap Blend Equities | HFCGX vs QISCX | |
| Berkshire Focus Fund | 0.31 | 0.55 | 0.52 | 79 | Technology Equities | HFCGX vs BFOCX | |
| Fidelity Focused Stock Fund | 0.48 | 0.65 | 0.67 | 78 | Large Cap Growth Equities | HFCGX vs FTQGX | |
| Hennessy Balanced Fund | 0.49 | 0.52 | 0.57 | 65 | Diversified Portfolio | HFCGX vs HBFBX |
See all 98 diversifiers for HFCGX
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