Looking to diversify beyond HICOX? The mutual funds below have the lowest correlation with HICOX — 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 HICOX.
Best Diversifiers for HICOX
25 mutual funds have low correlation with HICOX (below 0.3), 1 of which are negatively correlated. The least correlated is DFA California Municipal Real Return Portfolio (DCARX) (Municipal Bonds) with a 1Y correlation of -0.00, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA California Municipal Real Return Portfolio | -0.00 | 0.15 | 0.18 | 94 | Municipal Bonds | HICOX vs DCARX | |
| DFA Municipal Real Return Portfolio | 0.01 | 0.17 | 0.19 | 94 | Municipal Bonds | HICOX vs DMREX | |
| Federated Hermes Conservative Municipal Microshort... | 0.04 | 0.10 | 0.08 | 99 | Municipal Bonds | HICOX vs FHMIX | |
| AQR Long-Short Equity Fund Class N | 0.04 | -0.09 | -0.10 | 54 | Long-Short, Actively Managed | HICOX vs QLENX | |
| AQR Long-Short Equity Fund | 0.05 | -0.09 | -0.11 | 57 | Long-Short | HICOX vs QLEIX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HICOX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HICOX and solid risk/return profiles. The least correlated is NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of 0.04, roughly unchanged from 0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | 0.04 | 0.03 | 0.05 | 72 | Technology |
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