Looking to diversify beyond HOBIX? The mutual funds below have historically moved differently from HOBIX, 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 HOBIX
1 mutual funds have low correlation with HOBIX (below 0.3), 0 of which are negatively correlated. The least correlated is GMO Multi-Sector Fixed Income Fund (GUGAX) (Intermediate Core-Plus Bond) with a 1Y correlation of 0.05, down from 0.35 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| GMO Multi-Sector Fixed Income Fund | 0.05 | 0.26 | 0.35 | 89 | Intermediate Core-Plus Bond | HOBIX vs GUGAX | |
| Putnam Mortgage Securities Fund | 0.33 | 0.32 | 0.37 | 51 | Intermediate Core-Plus Bond | HOBIX vs PGSIX | |
| AAMA Income Fund | 0.42 | 0.29 | 0.37 | 77 | Intermediate Core-Plus Bond | HOBIX vs AMFIX | |
| Leader Capital High Quality Income Fund Institutio... | 0.42 | 0.25 | 0.20 | 86 | Intermediate Core-Plus Bond | HOBIX vs LCTIX | |
| Leader Capital High Quality Floating Rate Fund Inv... | 0.43 | 0.27 | 0.20 | 81 | Intermediate Core-Plus Bond | HOBIX vs LCTRX |
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