Looking to diversify beyond HHCZX? The mutual funds below have historically moved differently from HHCZX, 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 HHCZX
9 mutual funds have low correlation with HHCZX (below 0.3), 3 of which are negatively correlated. The least correlated is Vanguard Market Neutral Fund Institutional Shares (VMNIX) (Long-Short) with a 1Y correlation of -0.11, 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 |
|---|---|---|---|---|---|---|---|
| Vanguard Market Neutral Fund Institutional Shares | -0.11 | -0.11 | -0.11 | 97 | Long-Short | HHCZX vs VMNIX | |
| Vanguard Market Neutral Fund Investor Shares | -0.11 | -0.11 | -0.10 | 97 | Long-Short | HHCZX vs VMNFX | |
| Knights of Columbus Long/Short Equity Fund | -0.07 | 0.14 | 0.09 | 95 | Long-Short | HHCZX vs KCEIX | |
| Quantitative U.S. Long/Short Equity Portfolio | 0.13 | 0.26 | 0.29 | 95 | Long-Short | HHCZX vs GTAPX | |
| Guggenheim Alpha Opportunity Fund | 0.18 | 0.18 | 0.21 | 82 | Long-Short | HHCZX vs SAOAX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for HHCZX, 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 Bank of America Corporation (BAC) (Financial Services) with a 1Y correlation of 0.27, down from 0.39 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Bank of America Corporation | 0.27 | 0.36 | 0.39 | 85 | Financial Services |
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