Looking to diversify beyond HSDAX? The mutual funds below have historically moved differently from HSDAX, 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 HSDAX
7 mutual funds have low correlation with HSDAX (below 0.3), 0 of which are negatively correlated. The least correlated is GuidePath Absolute Return Allocation Fund (GPARX) (Short-Term Bond) with a 1Y correlation of 0.12, down from 0.58 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| GuidePath Absolute Return Allocation Fund | 0.12 | 0.51 | 0.58 | 69 | Short-Term Bond | HSDAX vs GPARX | |
| Leader Short Term High Yield Bond Fund | 0.17 | 0.18 | 0.25 | 84 | Short-Term Bond | HSDAX vs LCCMX | |
| DFA Two-Year Fixed Income Portfolio | 0.19 | 0.02 | 0.33 | 100 | Short-Term Bond | HSDAX vs DFCFX | |
| Hartford Schroders Emerging Markets Equity Fund Cl... | 0.23 | 0.12 | 0.14 | 71 | Emerging Markets Equities | HSDAX vs SEMNX | |
| The Hartford Equity Income Fund | 0.26 | 0.18 | 0.16 | 77 | Dividend, Large Cap Value Equities | HSDAX vs HQIYX |
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