Looking to diversify beyond HFRO? The mutual funds below have the lowest correlation with HFRO — 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 HFRO.
Best Diversifiers for HFRO
24 mutual funds have low correlation with HFRO (below 0.3), 0 of which are negatively correlated. The least correlated is MH Elite Small Cap Fund of Funds Fund (MHELX) (Diversified Portfolio) with a 1Y correlation of 0.02, down from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MH Elite Small Cap Fund of Funds Fund | 0.02 | 0.08 | 0.17 | 67 | Diversified Portfolio | HFRO vs MHELX | |
| NexPoint Merger Arbitrage Fund | 0.08 | 0.12 | 0.14 | 99 | Event Driven | HFRO vs HMEZX | |
| Fidelity Strategic Real Return Fund Class K6 | 0.14 | 0.24 | 0.24 | 88 | Diversified Portfolio | HFRO vs FSRKX | |
| Virtus Total Return Fund | 0.14 | 0.21 | 0.23 | 54 | Diversified Portfolio | HFRO vs ZTR | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.15 | 0.24 | 0.24 | 82 | Diversified Portfolio | HFRO vs FCSRX |
See all 34 diversifiers for HFRO
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Diversification Analysis
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