Looking to diversify beyond HILAX? The mutual funds below have historically moved differently from HILAX, 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 HILAX
1 mutual funds have low correlation with HILAX (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 0.27, up from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Hartford Municipal Opportunities Fund | 0.27 | 0.18 | 0.12 | 63 | Municipal Bonds | HILAX vs HHMIX | |
| Gateway Fund Class Y Shares | 0.48 | 0.49 | 0.59 | 64 | Options Trading | HILAX vs GTEYX | |
| PIMCO Income Fund Institutional Class | 0.49 | 0.39 | 0.43 | 52 | Multisector Bonds | HILAX vs PIMIX | |
| PIMCO Low Duration Income Fund | 0.49 | 0.39 | 0.45 | 88 | Short-Term Bond | HILAX vs PFIIX | |
| The Hartford Equity Income Fund | 0.58 | 0.63 | 0.69 | 77 | Dividend, Large Cap Value Equities | HILAX vs HQIYX |
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