Looking to diversify beyond HNRIX? The mutual funds below have historically moved differently from HNRIX, 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 HNRIX
17 mutual funds have low correlation with HNRIX (below 0.3), 2 of which are negatively correlated. The least correlated is Hennessy Japan Small Cap Fund (HJPSX) (Japan Equities) with a 1Y correlation of -0.01, down from 0.22 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Hennessy Japan Small Cap Fund | -0.01 | 0.13 | 0.22 | 54 | Japan Equities, Asia Pacific Equities | HNRIX vs HJPSX | |
| Hennessy Technology Fund | -0.01 | 0.21 | 0.33 | 52 | Technology Equities | HNRIX vs HTECX | |
| Hennessy Japan Fund | 0.03 | 0.18 | 0.25 | 63 | Japan Equities, Asia Pacific Equities | HNRIX vs HJPNX | |
| Hennessy Equity and Income Fund | 0.03 | 0.28 | 0.37 | 59 | Diversified Portfolio | HNRIX vs HEIIX | |
| Hennessy Cornerstone Growth Fund | 0.17 | 0.38 | 0.59 | 53 | Small Cap Blend Equities | HNRIX vs HFCGX |
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