Looking to diversify beyond HMKIX? The mutual funds below have the lowest correlation with HMKIX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from HMKIX.
Best Diversifiers for HMKIX
11 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 0.15, roughly unchanged from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Hartford Schroders Emerging Markets Equity Fund Cl... | 0.15 | 0.12 | 0.12 | 91 | Emerging Markets Equities | HMKIX vs SEMNX | |
| DFA Short Term Municipal Bond Portfolio | 0.20 | 0.27 | 0.38 | 99 | Municipal Bonds | HMKIX vs DFSMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.22 | 0.31 | 0.38 | 99 | Municipal Bonds | HMKIX vs USMSX | |
| Federated Hermes Conservative Municipal Microshort... | 0.23 | 0.19 | 0.15 | 99 | Municipal Bonds | HMKIX vs FHMIX | |
| DFA Short-Term Selective State Municipal Bond Port... | 0.24 | 0.30 | — | 100 | Municipal Bonds | HMKIX vs DFABX |
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