Looking to diversify beyond HJPNX? The mutual funds below have historically moved differently from HJPNX, 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 HJPNX
5 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 0.03, down from 0.25 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Hennessy Energy Transition Fund | 0.03 | 0.18 | 0.25 | 73 | Energy Equities | HJPNX vs HNRIX | |
| Rydex Energy Fund | 0.07 | 0.21 | 0.28 | 79 | Energy Equities | HJPNX vs RYEIX | |
| Hennessy Total Return Fund | 0.11 | 0.29 | 0.36 | 68 | Diversified Portfolio | HJPNX vs HDOGX | |
| Hennessy Balanced Fund | 0.14 | 0.32 | 0.38 | 89 | Diversified Portfolio | HJPNX vs HBFBX | |
| Hennessy Cornerstone Value Fund | 0.18 | 0.33 | 0.41 | 96 | Large Cap Value Equities | HJPNX vs HFCVX |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements HJPNX
Add HJPNX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with HJPNX