Looking to diversify beyond HLIEX? The mutual funds below have historically moved differently from HLIEX, 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 HLIEX
2 mutual funds have low correlation with HLIEX (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 0.24, roughly unchanged from 0.25 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 | 0.24 | 0.21 | 0.25 | 81 | Multisector Bonds, Investment Grade Bonds, High Yield Bonds, Actively Managed | HLIEX vs JMSIX | |
| JPMorgan Income Fund Class A | 0.25 | 0.20 | 0.24 | 79 | Multisector Bonds | HLIEX vs JGIAX | |
| Federated Hermes Equity Income Fund | 0.30 | 0.58 | 0.77 | 68 | Dividend, Large Cap Value Equities | HLIEX vs LEIFX | |
| GQG Partners US Quality Dividend Income Fund | 0.32 | 0.59 | 0.72 | 58 | Quality Factor, Large Cap Value Equities | HLIEX vs GQHPX | |
| Allspring Emerging Markets Equity Income Fund | 0.35 | 0.36 | 0.46 | 68 | Dividend, Emerging Markets Equities | HLIEX vs EQIIX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for HLIEX, 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 Berkshire Hathaway Inc. (BRK-B) (Financial Services) with a 1Y correlation of 0.37, down from 0.69 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Berkshire Hathaway Inc. | 0.37 | 0.57 | 0.69 | 61 | Financial Services |
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