Looking to diversify beyond HICOX? The mutual funds below have historically moved differently from HICOX, 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 HICOX
23 mutual funds have low correlation with HICOX (below 0.3), 1 of which are negatively correlated. The least correlated is DFA Municipal Real Return Portfolio (DMREX) (Municipal Bonds) with a 1Y correlation of -0.02, down from 0.19 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA Municipal Real Return Portfolio | -0.02 | 0.15 | 0.19 | 92 | Municipal Bonds | HICOX vs DMREX | |
| DFA California Municipal Real Return Portfolio | 0.01 | 0.14 | 0.19 | 89 | Municipal Bonds | HICOX vs DCARX | |
| AQR Long-Short Equity Fund Class N | 0.02 | -0.11 | -0.11 | 74 | Long-Short, Actively Managed | HICOX vs QLENX | |
| AQR Long-Short Equity Fund | 0.02 | -0.11 | -0.11 | 77 | Long-Short | HICOX vs QLEIX | |
| Federated Hermes Conservative Municipal Microshort... | 0.06 | 0.10 | 0.08 | 99 | Municipal Bonds | HICOX vs FHMIX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for HICOX, 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 NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of 0.03, roughly unchanged from 0.05 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | 0.03 | 0.01 | 0.05 | 61 | Technology |
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