Looking to diversify beyond HIADX? The mutual funds below have the lowest correlation with HIADX — 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 HIADX.
Best Diversifiers for HIADX
1 mutual funds have low correlation with HIADX (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 0.26, up from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Hartford Municipal Opportunities Fund | 0.26 | 0.17 | 0.11 | 67 | Municipal Bonds | HIADX vs HHMIX | |
| Federated Hermes Strategic Value Dividend Fund | 0.45 | 0.59 | 0.70 | 80 | Large Cap Value Equities | HIADX vs SVAIX | |
| The Hartford Strategic Income Fund | 0.51 | 0.36 | 0.30 | 55 | Multisector Bonds | HIADX vs HSNIX | |
| Hartford Schroders Emerging Markets Equity Fund Cl... | 0.55 | 0.56 | 0.57 | 91 | Emerging Markets Equities | HIADX vs SEMNX | |
| Hennessy Cornerstone Value Fund | 0.63 | 0.76 | 0.81 | 81 | Large Cap Value Equities | HIADX vs HFCVX |
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