Looking to diversify beyond HMSIX? The mutual funds below have historically moved differently from HMSIX, 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 HMSIX
16 mutual funds have low correlation with HMSIX (below 0.3), 5 of which are negatively correlated. The least correlated is Hennessy Technology Fund (HTECX) (Technology Equities) with a 1Y correlation of -0.10, down from 0.36 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Hennessy Technology Fund | -0.10 | 0.22 | 0.36 | 52 | Technology Equities | HMSIX vs HTECX | |
| Lord Abbett Short Duration High Yield Fund | -0.10 | 0.19 | 0.30 | 75 | High Yield Bonds | HMSIX vs LSYAX | |
| Shelton Equity Income Fund | -0.07 | 0.28 | 0.44 | 55 | Derivative Income | HMSIX vs EQTIX | |
| Hennessy Japan Fund | -0.07 | 0.21 | 0.28 | 63 | Japan Equities, Asia Pacific Equities | HMSIX vs HJPNX | |
| Hennessy Japan Small Cap Fund | -0.02 | 0.19 | 0.25 | 54 | Japan Equities, Asia Pacific Equities | HMSIX vs HJPSX |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements HMSIX
Add HMSIX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with HMSIX