Looking to diversify beyond HLEIX? The mutual funds below have historically moved differently from HLEIX, 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 HLEIX
1 mutual funds have low correlation with HLEIX (below 0.3), 0 of which are negatively correlated. The least correlated is JPMorgan Income Fund Class I (JMSIX) (Multisector Bonds) with a 1Y correlation of 0.27, roughly unchanged from 0.28 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| JPMorgan Income Fund Class I | 0.27 | 0.22 | 0.28 | 81 | Multisector Bonds, Investment Grade Bonds, High Yield Bonds, Actively Managed | HLEIX vs JMSIX | |
| Goldman Sachs Strategic Volatility Premium Fund | 0.34 | 0.15 | 0.13 | 96 | Large Cap Blend Equities | HLEIX vs SVPFX | |
| North Square Preferred and Income Securities Fund | 0.53 | 0.36 | 0.41 | 54 | Preferred Stock | HLEIX vs ORDNX | |
| Rock Oak Core Growth Fund | 0.57 | 0.70 | 0.80 | 91 | Large Cap Blend Equities | HLEIX vs RCKSX | |
| Muhlenkamp Fund | 0.61 | 0.69 | 0.73 | 51 | Large Cap Blend Equities | HLEIX vs MUHLX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for HLEIX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is JPMorgan Chase & Co. (JPM) (Financial Services) with a 1Y correlation of 0.44, down from 0.57 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| JPMorgan Chase & Co. | 0.44 | 0.49 | 0.57 | 73 | Financial Services | |
| NVIDIA Corporation | 0.62 | 0.64 | 0.70 | 61 | Technology |
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