Looking to diversify beyond HSSAX? The mutual funds below have the lowest correlation with HSSAX — 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 HSSAX.
Best Diversifiers for HSSAX
0 mutual funds have low correlation with HSSAX (below 0.3), 0 of which are negatively correlated. The least correlated is Gabelli Global Financial Services Fund (GFSIX) (Financials Equities) with a 1Y correlation of 0.67, roughly unchanged from 0.76 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Gabelli Global Financial Services Fund | 0.67 | 0.77 | 0.76 | 73 | Financials Equities | HSSAX vs GFSIX | |
| Emerald Growth Fund | 0.67 | 0.67 | 0.75 | 88 | Small Cap Growth Equities | HSSAX vs HSPGX | |
| Emerald Growth Fund Institutional Class | 0.67 | 0.67 | 0.74 | 89 | Small Cap Growth Equities | HSSAX vs FGROX | |
| Gabelli Global Financial Services Fund Class AAA | 0.69 | 0.78 | 0.76 | 71 | Financials Equities | HSSAX vs GAFSX | |
| RMB Mendon Financial Services Fund | 0.83 | 0.90 | 0.86 | 59 | Financials Equities | HSSAX vs RMBKX |
Diversification Analysis
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