Looking to diversify beyond HFCSX? The mutual funds below have historically moved differently from HFCSX, 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 HFCSX
4 mutual funds have low correlation with HFCSX (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 0.36 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Hennessy Energy Transition Fund | 0.09 | 0.28 | 0.36 | 72 | Energy Equities | HFCSX vs HNRIX | |
| Hennessy Total Return Fund | 0.10 | 0.38 | 0.50 | 69 | Diversified Portfolio | HFCSX vs HDOGX | |
| Hennessy Balanced Fund | 0.16 | 0.42 | 0.52 | 89 | Diversified Portfolio | HFCSX vs HBFBX | |
| Hennessy Cornerstone Value Fund | 0.25 | 0.46 | 0.56 | 95 | Large Cap Value Equities | HFCSX vs HFCVX | |
| Hennessy Japan Small Cap Fund | 0.31 | 0.40 | 0.47 | 54 | Japan Equities, Asia Pacific Equities | HFCSX vs HJPSX |
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