Looking to diversify beyond HFLGX? The mutual funds below have historically moved differently from HFLGX, 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 HFLGX
1 mutual funds have low correlation with HFLGX (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 0.19, down from 0.52 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Hennessy Energy Transition Fund | 0.19 | 0.47 | 0.52 | 73 | Energy Equities | HFLGX vs HNRIX | |
| AMG Yacktman Focused Fund | 0.30 | 0.59 | 0.71 | 93 | Large Cap Value Equities | HFLGX vs YAFFX | |
| Rational Equity Armor Fund | 0.31 | 0.50 | 0.61 | 51 | Large Cap Value Equities | HFLGX vs HDCTX | |
| Voya Corporate Leaders Trust Fund | 0.31 | 0.59 | 0.67 | 94 | Large Cap Value Equities | HFLGX vs LEXCX | |
| Adams Diversified Equity Fund, Inc. | 0.33 | 0.53 | 0.68 | 86 | Large Cap Blend Equities | HFLGX vs ADX |
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