Looking to diversify beyond HIMDX? The mutual funds below have the lowest correlation with HIMDX — 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 HIMDX.
Best Diversifiers for HIMDX
2 mutual funds have low correlation with HIMDX (below 0.3), 0 of which are negatively correlated. The least correlated is Hennessy Energy Transition Fund (HNRIX) (Energy Equities) with a 1Y correlation of 0.09, down from 0.56 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Hennessy Energy Transition Fund | 0.09 | 0.39 | 0.56 | 66 | Energy Equities | HIMDX vs HNRIX | |
| Federated Hermes Strategic Value Dividend Fund | 0.28 | 0.38 | 0.50 | 70 | Large Cap Value Equities | HIMDX vs SVAIX | |
| Hennessy Balanced Fund | 0.35 | 0.49 | 0.58 | 66 | Diversified Portfolio | HIMDX vs HBFBX | |
| Hennessy Cornerstone Value Fund | 0.42 | 0.55 | 0.66 | 89 | Large Cap Value Equities | HIMDX vs HFCVX | |
| Fidelity Blue Chip Growth Fund | 0.59 | 0.60 | 0.65 | 75 | Large Cap Growth Equities | HIMDX vs FBGRX |
See all 23 diversifiers for HIMDX
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