Looking to diversify beyond HPI? The mutual funds below have historically moved differently from HPI, 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 HPI
1 mutual funds have low correlation with HPI (below 0.3), 0 of which are negatively correlated. The least correlated is JHancock Infrastructure Fund (JEEIX) (Infrastructure Equities) with a 1Y correlation of 0.16, down from 0.35 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| JHancock Infrastructure Fund | 0.16 | 0.26 | 0.35 | 82 | Infrastructure Equities, Energy Equities | HPI vs JEEIX | |
| Cohen & Steers Preferred Securities and Income SMA... | 0.36 | 0.34 | 0.40 | 85 | Preferred Stock | HPI vs PISHX | |
| Cohen & Steers Low Duration Preferred and Income F... | 0.40 | 0.35 | 0.39 | 86 | Preferred Stock | HPI vs LPXZX | |
| John Hancock Funds Disciplined Value Mid Cap Fund ... | 0.41 | 0.36 | 0.43 | 54 | Mid Cap Value Equities | HPI vs JVMIX | |
| John Hancock Funds Alternative Asset Allocation Fu... | 0.41 | 0.36 | 0.41 | 96 | Multistrategy | HPI vs JAAAX |
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