Looking to diversify beyond HOBEX? The mutual funds below have historically moved differently from HOBEX, 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 HOBEX
20 mutual funds have low correlation with HOBEX (below 0.3), 0 of which are negatively correlated. The least correlated is Cliffwater Corporate Lending Fund Class I Shares (CCLFX) (Bank Loan) with a 1Y correlation of 0.03, roughly unchanged from 0.06 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Cliffwater Corporate Lending Fund Class I Shares | 0.03 | 0.02 | 0.06 | 100 | Bank Loan, High Yield Bonds | HOBEX vs CCLFX | |
| AQR Long-Short Equity Fund | 0.08 | 0.06 | -0.02 | 78 | Long-Short | HOBEX vs QLEIX | |
| Leader Short Term High Yield Bond Fund | 0.09 | 0.26 | 0.28 | 84 | Short-Term Bond | HOBEX vs LCCMX | |
| AQR Diversifying Strategies Fund - Class I | 0.10 | 0.06 | -0.06 | 92 | Multistrategy | HOBEX vs QDSIX | |
| DFA Two-Year Fixed Income Portfolio | 0.12 | 0.02 | 0.15 | 100 | Short-Term Bond | HOBEX vs DFCFX |
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