Looking to diversify beyond HGIFX? The mutual funds below have historically moved differently from HGIFX, 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 HGIFX
1 mutual funds have low correlation with HGIFX (below 0.3), 0 of which are negatively correlated. The least correlated is Hartford Municipal Opportunities Fund (HHMIX) (Municipal Bonds) with a 1Y correlation of 0.21, roughly unchanged from 0.11 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Hartford Municipal Opportunities Fund | 0.21 | 0.14 | 0.11 | 63 | Municipal Bonds | HGIFX vs HHMIX | |
| Goldman Sachs Strategic Volatility Premium Fund | 0.35 | 0.15 | 0.13 | 97 | Large Cap Blend Equities | HGIFX vs SVPFX | |
| The Hartford Equity Income Fund | 0.46 | 0.59 | 0.72 | 77 | Dividend, Large Cap Value Equities | HGIFX vs HQIYX | |
| North Square Preferred and Income Securities Fund | 0.53 | 0.34 | 0.40 | 59 | Preferred Stock | HGIFX vs ORDNX | |
| The Hartford Balanced Income Fund | 0.53 | 0.58 | 0.68 | 53 | Diversified Portfolio | HGIFX vs HBLYX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for HGIFX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Apple Inc (AAPL) (Technology) with a 1Y correlation of 0.48, down from 0.67 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Apple Inc | 0.48 | 0.53 | 0.67 | 89 | Technology |
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