Looking to diversify beyond HIEMX? The mutual funds below have historically moved differently from HIEMX, 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 HIEMX
5 mutual funds have low correlation with HIEMX (below 0.3), 0 of which are negatively correlated. The least correlated is Virtus Duff & Phelps Real Estate Securities Fund (PHRAX) (REIT) with a 1Y correlation of 0.21, down from 0.37 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Virtus Duff & Phelps Real Estate Securities Fund | 0.21 | 0.30 | 0.37 | 66 | REIT | HIEMX vs PHRAX | |
| Goldman Sachs GQG Partners International Opportuni... | 0.25 | 0.45 | 0.54 | 51 | Foreign Large Cap Equities, Emerging Markets Equities | HIEMX vs GSIYX | |
| Virtus Seix Floating Rate High Income Fund | 0.26 | 0.25 | 0.31 | 97 | Bank Loan | HIEMX vs SAMBX | |
| The Merger Fund | 0.28 | 0.19 | 0.23 | 97 | Event Driven | HIEMX vs MERFX | |
| Virtus AlphaSimplex Managed Futures Strategy Fund ... | 0.29 | 0.23 | 0.10 | 67 | Systematic Trend | HIEMX vs ASFYX |
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