Looking to diversify beyond HMKIX? The mutual funds below have historically moved differently from HMKIX, 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 HMKIX
12 mutual funds have low correlation with HMKIX (below 0.3), 0 of which are negatively correlated. The least correlated is Hartford Schroders Emerging Markets Equity Fund Class I (SEMNX) (Emerging Markets Equities) with a 1Y correlation of 0.19, roughly unchanged from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Hartford Schroders Emerging Markets Equity Fund Cl... | 0.19 | 0.13 | 0.13 | 71 | Emerging Markets Equities | HMKIX vs SEMNX | |
| The Hartford Equity Income Fund | 0.21 | 0.16 | 0.10 | 77 | Dividend, Large Cap Value Equities | HMKIX vs HQIYX | |
| The Hartford Dividend and Growth Fund | 0.24 | 0.17 | 0.12 | 88 | Large Cap Value Equities | HMKIX vs HDGYX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.24 | 0.24 | 0.21 | 99 | Municipal Bonds | HMKIX vs TFCYX | |
| DFA Short Term Municipal Bond Portfolio | 0.25 | 0.28 | 0.38 | 100 | Municipal Bonds | HMKIX vs DFSMX |
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