Looking to diversify beyond HJPNX? The mutual funds below have the lowest correlation with HJPNX — 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 HJPNX.
Best Diversifiers for HJPNX
4 mutual funds have low correlation with HJPNX (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 0.05, down from 0.27 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Hennessy Energy Transition Fund | 0.05 | 0.20 | 0.27 | 66 | Energy Equities | HJPNX vs HNRIX | |
| Rydex Energy Fund | 0.09 | 0.23 | 0.30 | 81 | Energy Equities | HJPNX vs RYEIX | |
| Hennessy Balanced Fund | 0.29 | 0.35 | 0.41 | 66 | Diversified Portfolio | HJPNX vs HBFBX | |
| Hennessy Cornerstone Value Fund | 0.30 | 0.37 | 0.44 | 89 | Large Cap Value Equities | HJPNX vs HFCVX | |
| Schwab S&P 500 Index Fund | 0.61 | 0.63 | 0.65 | 73 | Large Cap Blend Equities, S&P 500 | HJPNX vs SWPPX |
See all 12 diversifiers for HJPNX
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