Looking to diversify beyond HIMFX? The mutual funds below have the lowest correlation with HIMFX — 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 HIMFX.
Best Diversifiers for HIMFX
2 mutual funds have low correlation with HIMFX (below 0.3), 0 of which are negatively correlated. The least correlated is American Funds Fundamental Investors Fund Class R2 (RFNBX) (Large Cap Blend Equities) with a 1Y correlation of 0.17, roughly unchanged from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| American Funds Fundamental Investors Fund Class R2 | 0.17 | 0.14 | 0.12 | 65 | Large Cap Blend Equities | HIMFX vs RFNBX | |
| American Funds Fundamental Investors Fund Class R6 | 0.17 | 0.14 | 0.12 | 72 | Large Cap Growth Equities | HIMFX vs RFNGX | |
| Capital Group California Short-Term Municipal Fund | 0.44 | 0.62 | 0.65 | 77 | Municipal Bonds | HIMFX vs CCSTX | |
| Nuveen Short Duration High Yield Municipal Bond Fu... | 0.66 | 0.70 | 0.71 | 65 | High Yield Muni | HIMFX vs NVHIX | |
| Russell Investments Tax-Exempt High Yield Bond Fun... | 0.67 | 0.81 | 0.86 | 68 | High Yield Muni | HIMFX vs RTHAX |
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