Looking to diversify beyond HIMFX? The mutual funds below have historically moved differently from HIMFX, 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 HIMFX
4 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 R6 (RFNGX) (Large Cap Growth Equities) with a 1Y correlation of 0.19, roughly unchanged from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| American Funds Fundamental Investors Fund Class R6 | 0.19 | 0.15 | 0.13 | 64 | Large Cap Growth Equities | HIMFX vs RFNGX | |
| American Funds Fundamental Investors Fund Class R2 | 0.20 | 0.15 | 0.13 | 53 | Large Cap Blend Equities | HIMFX vs RFNBX | |
| American Funds Moderate Growth and Income Portfoli... | 0.29 | 0.26 | 0.22 | 64 | Diversified Portfolio | HIMFX vs BLPFX | |
| American Funds 2035 Target Date Retirement Fund Cl... | 0.29 | 0.25 | 0.21 | 52 | Target Retirement Date | HIMFX vs FAQTX | |
| Capital Group California Short-Term Municipal Fund | 0.51 | 0.63 | 0.66 | 64 | Municipal Bonds | HIMFX vs CCSTX |
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