Looking to diversify beyond HFCVX? The mutual funds below have historically moved differently from HFCVX, 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 HFCVX
12 mutual funds have low correlation with HFCVX (below 0.3), 0 of which are negatively correlated. The least correlated is Hennessy Technology Fund (HTECX) (Technology Equities) with a 1Y correlation of 0.14, down from 0.47 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Hennessy Technology Fund | 0.14 | 0.34 | 0.47 | 52 | Technology Equities | HFCVX vs HTECX | |
| Hennessy Japan Small Cap Fund | 0.18 | 0.32 | 0.38 | 54 | Japan Equities, Asia Pacific Equities | HFCVX vs HJPSX | |
| Hennessy Japan Fund | 0.18 | 0.33 | 0.41 | 63 | Japan Equities, Asia Pacific Equities | HFCVX vs HJPNX | |
| AMG Yacktman Focused Fund | 0.23 | 0.56 | 0.70 | 89 | Large Cap Value Equities | HFCVX vs YAFFX | |
| Fidelity Dividend Growth Fund Class K | 0.25 | 0.44 | 0.61 | 69 | Large Cap Value Equities | HFCVX vs FDGKX |
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