Looking to diversify beyond HGIFX? The mutual funds below have the lowest correlation with HGIFX — 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 HGIFX.
Best Diversifiers for HGIFX
2 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 0.16, roughly unchanged from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Hartford Municipal Opportunities Fund | 0.16 | 0.14 | 0.10 | 66 | Municipal Bonds | HGIFX vs HHMIX | |
| Goldman Sachs Strategic Volatility Premium Fund | 0.26 | 0.12 | 0.11 | 73 | Large Cap Blend Equities | HGIFX vs SVPFX | |
| The Hartford Strategic Income Fund | 0.42 | 0.31 | 0.29 | 66 | Multisector Bonds | HGIFX vs HSNIX | |
| North Square Preferred and Income Securities Fund | 0.48 | 0.33 | 0.41 | 72 | Large Cap Blend Equities | HGIFX vs ORDNX | |
| Rock Oak Core Growth Fund | 0.61 | 0.69 | 0.80 | 56 | Large Cap Blend Equities | HGIFX vs RCKSX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HGIFX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HGIFX and solid risk/return profiles. The least correlated is Apple Inc (AAPL) (Technology) with a 1Y correlation of 0.49, down from 0.67 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Apple Inc | 0.49 | 0.55 | 0.67 | 89 | Technology |
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