Looking to diversify beyond HLGEX? The mutual funds below have historically moved differently from HLGEX, 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 HLGEX
2 mutual funds have low correlation with HLGEX (below 0.3), 0 of which are negatively correlated. The least correlated is Weitz Short Duration Income Fund (WEFIX) (Short-Term Bond) with a 1Y correlation of 0.25, up from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Weitz Short Duration Income Fund | 0.25 | 0.07 | 0.12 | 94 | Short-Term Bond | HLGEX vs WEFIX | |
| JPMorgan Income Fund Class I | 0.28 | 0.21 | 0.28 | 73 | Multisector Bonds, Investment Grade Bonds, High Yield Bonds, Actively Managed | HLGEX vs JMSIX | |
| Blackstone Alternative Multi-Strategy Fund | 0.48 | 0.45 | 0.49 | 99 | Multistrategy | HLGEX vs BXMIX | |
| JPMorgan Equity Income Fund R6 | 0.57 | 0.63 | 0.69 | 94 | Large Cap Value Equities, Dividend | HLGEX vs OIEJX | |
| JPMorgan Mid Cap Value Fund | 0.57 | 0.68 | 0.74 | 64 | Mid Cap Value Equities | HLGEX vs FLMVX |
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