Looking to diversify beyond HPS? The mutual funds below have historically moved differently from HPS, 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 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) (Infrastructure Equities) with a 1Y correlation of 0.16, down from 0.37 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 | 0.31 | 0.37 | 82 | Infrastructure Equities, Energy Equities | HPS vs JEEIX | |
| Principal Capital Securities Fund | 0.34 | 0.35 | 0.36 | 77 | Preferred Stock | HPS vs PCSFX | |
| PIMCO Preferred and Capital Securities Fund | 0.35 | 0.39 | 0.39 | 68 | Preferred Stock | HPS vs PFINX | |
| John Hancock Funds Disciplined Value Mid Cap Fund ... | 0.35 | 0.42 | 0.45 | 54 | Mid Cap Value Equities | HPS vs JVMIX | |
| Cohen & Steers Preferred Securities and Income SMA... | 0.36 | 0.36 | 0.39 | 85 | Preferred Stock | HPS vs PISHX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for HPS, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Enterprise Products Partners L.P. (EPD) (Energy) with a 1Y correlation of -0.07, down from 0.19 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Enterprise Products Partners L.P. | -0.07 | 0.09 | 0.19 | 89 | Energy | |
| Energy Transfer LP | -0.03 | 0.16 | 0.21 | 81 | Energy | |
| Western Midstream Partners, LP | 0.03 | 0.17 | 0.23 | 80 | Energy | |
| Antero Midstream Corporation | 0.04 | 0.20 | 0.27 | 78 | Energy | |
| Delek Logistics Partners, LP | 0.11 | 0.15 | 0.18 | 87 | Energy |
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