Looking to diversify beyond HIAOX? The mutual funds below have historically moved differently from HIAOX, 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 HIAOX
1 mutual funds have low correlation with HIAOX (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 0.15 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Hartford Municipal Opportunities Fund | 0.26 | 0.17 | 0.15 | 63 | Municipal Bonds | HIAOX vs HHMIX | |
| Fidelity Advisor Health Care Fund Class Z | 0.39 | 0.51 | 0.58 | 69 | Health & Biotech Equities | HIAOX vs FIKCX | |
| Federated Hermes International Strategic Value Div... | 0.40 | 0.52 | 0.65 | 88 | Foreign Large Cap Equities | HIAOX vs IVFIX | |
| Goldman Sachs GQG Partners International Opportuni... | 0.43 | 0.71 | 0.80 | 61 | Foreign Large Cap Equities | HIAOX vs GSIMX | |
| Goldman Sachs GQG Partners International Opportuni... | 0.44 | 0.71 | 0.80 | 61 | Foreign Large Cap Equities | HIAOX vs GSINX |
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