Looking to diversify beyond HPS? The mutual funds below have the lowest correlation with HPS — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from HPS.
Best Diversifiers for HPS
1 mutual funds have low correlation with HPS (below 0.3), 0 of which are negatively correlated. The least correlated is JHancock Infrastructure Fund (JEEIX) (Energy Equities) with a 1Y correlation of 0.15, down from 0.37 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| JHancock Infrastructure Fund | 0.15 | 0.31 | 0.37 | 74 | Energy Equities | HPS vs JEEIX | |
| Principal Capital Securities Fund | 0.31 | 0.35 | 0.36 | 77 | Preferred Stock/Convertible Bonds | HPS vs PCSFX | |
| PIMCO Preferred and Capital Securities Fund | 0.32 | 0.38 | 0.39 | 72 | Preferred Stock/Convertible Bonds | HPS vs PFINX | |
| Cohen & Steers Preferred Securities and Income SMA... | 0.32 | 0.36 | 0.38 | 88 | Preferred Stock/Convertible Bonds | HPS vs PISHX | |
| John Hancock Funds Alternative Asset Allocation Fu... | 0.34 | 0.36 | 0.42 | 94 | Multistrategy | HPS vs JAAAX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HPS, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HPS and solid risk/return profiles. The least correlated is Enterprise Products Partners L.P. (EPD) (Energy) with a 1Y correlation of -0.05, down from 0.23 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Enterprise Products Partners L.P. | -0.05 | 0.13 | 0.23 | 83 | Energy | |
| Energy Transfer LP | -0.03 | 0.18 | 0.25 | 80 | Energy | |
| Hess Midstream LP | -0.02 | 0.14 | 0.18 | 54 | Energy | |
| Western Midstream Partners, LP | 0.05 | 0.18 | 0.24 | 77 | Energy | |
| Antero Midstream Corporation | 0.05 | 0.22 | 0.27 | 84 | Energy |
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Build a portfolio that complements HPS
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Analyze a portfolio with HPS