Looking to diversify beyond HMEZX? The mutual funds below have historically moved differently from HMEZX, 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 HMEZX
11 mutual funds have low correlation with HMEZX (below 0.3), 1 of which are negatively correlated. The least correlated is AQR Style Premia Alternative R6 (QSPRX) (Multistrategy) with a 1Y correlation of -0.01, roughly unchanged from -0.03 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| AQR Style Premia Alternative R6 | -0.01 | -0.02 | -0.03 | 90 | Multistrategy | HMEZX vs QSPRX | |
| Stone Ridge High Yield Reinsurance Risk Premium Fu... | 0.00 | 0.05 | 0.04 | 99 | Multistrategy | HMEZX vs SHRIX | |
| BlackRock Tactical Opportunities Fund Institutiona... | 0.03 | 0.14 | 0.12 | 85 | Tactical Allocation | HMEZX vs PBAIX | |
| Eaton Vance Global Macro Absolute Return Fund | 0.04 | 0.09 | 0.07 | 99 | Nontraditional Bonds | HMEZX vs EIGMX | |
| Cliffwater Corporate Lending Fund Class I Shares | 0.04 | 0.01 | 0.01 | 100 | Bank Loan, High Yield Bonds | HMEZX vs CCLFX |
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