Looking to diversify beyond HOIBX? The mutual funds below have historically moved differently from HOIBX, 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 HOIBX
2 mutual funds have low correlation with HOIBX (below 0.3), 0 of which are negatively correlated. The least correlated is Homestead Stock Index Fund (HSTIX) (Large Cap Blend Equities) with a 1Y correlation of 0.29, up from 0.15 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Homestead Stock Index Fund | 0.29 | 0.19 | 0.15 | 55 | Large Cap Blend Equities | HOIBX vs HSTIX | |
| Homestead Funds Value Fund | 0.29 | 0.21 | 0.13 | 74 | Large Cap Value Equities | HOIBX vs HOVLX | |
| Homestead International Equity Fund | 0.41 | 0.29 | 0.24 | 68 | Foreign Large Cap Equities | HOIBX vs HISIX | |
| Hartford Schroders Tax-Aware Bond Fund | 0.66 | 0.67 | 0.66 | 56 | Intermediate Core Bond | HOIBX vs STWTX |
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