Looking to diversify beyond HSNIX? The mutual funds below have historically moved differently from HSNIX, 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 HSNIX
5 mutual funds have low correlation with HSNIX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Floating Rate High Income Fund (FFRHX) (Bank Loan) with a 1Y correlation of 0.08, down from 0.22 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Floating Rate High Income Fund | 0.08 | 0.11 | 0.22 | 95 | Bank Loan | HSNIX vs FFRHX | |
| Hartford Real Asset Fund | 0.16 | 0.31 | 0.32 | 97 | Global Allocation | HSNIX vs HRLYX | |
| Nationwide Strategic Income A | 0.17 | 0.25 | 0.23 | 99 | Multisector Bonds | HSNIX vs NWXEX | |
| Nationwide Amundi Strategic Income Fund | 0.20 | 0.27 | 0.25 | 99 | Multisector Bonds | HSNIX vs NWXHX | |
| Hartford Floating Rate Fund | 0.23 | 0.17 | 0.26 | 52 | Bank Loan | HSNIX vs HFLYX |
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