Looking to diversify beyond HIPAX? The mutual funds below have historically moved differently from HIPAX, 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 HIPAX
4 mutual funds have low correlation with HIPAX (below 0.3), 0 of which are negatively correlated. The least correlated is SEI Multi-Asset Real Return Fund Class A (SEIAX) (Inflation-Protected Bonds) with a 1Y correlation of 0.06, down from 0.37 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Multi-Asset Real Return Fund Class A | 0.06 | 0.29 | 0.37 | 86 | Inflation-Protected Bonds | HIPAX vs SEIAX | |
| The Hartford Equity Income Fund | 0.22 | 0.23 | 0.19 | 77 | Dividend, Large Cap Value Equities | HIPAX vs HQIYX | |
| The Hartford Dividend and Growth Fund | 0.26 | 0.23 | 0.20 | 88 | Large Cap Value Equities | HIPAX vs HDGYX | |
| Hartford Schroders Emerging Markets Equity Fund Cl... | 0.28 | 0.17 | 0.16 | 71 | Emerging Markets Equities | HIPAX vs SEMNX | |
| Allspring Real Return Fund | 0.34 | 0.48 | 0.62 | 66 | Inflation-Protected Bonds | HIPAX vs IPBAX |
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