Looking to diversify beyond HNDDX? The mutual funds below have the lowest correlation with HNDDX — 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 HNDDX.
Best Diversifiers for HNDDX
2 mutual funds have low correlation with HNDDX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes Equity Income Fund (LEIFX) (Large Cap Value Equities) with a 1Y correlation of 0.15, down from 0.71 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Equity Income Fund | 0.15 | 0.48 | 0.71 | 67 | Large Cap Value Equities | HNDDX vs LEIFX | |
| Federated Hermes Strategic Value Dividend Fund | 0.24 | 0.40 | 0.61 | 80 | Large Cap Value Equities | HNDDX vs SVAIX | |
| Smead Value Fund | 0.44 | 0.62 | 0.75 | 62 | Large Cap Value Equities | HNDDX vs SMVLX | |
| Hennessy Cornerstone Value Fund | 0.44 | 0.59 | 0.75 | 81 | Large Cap Value Equities | HNDDX vs HFCVX | |
| American Century Equity Income Fund Class I | 0.58 | 0.64 | 0.78 | 52 | Large Cap Value Equities | HNDDX vs ACIIX |
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