Looking to diversify beyond HTECX? The mutual funds below have historically moved differently from HTECX, 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 HTECX
3 mutual funds have low correlation with HTECX (below 0.3), 1 of which are negatively correlated. The least correlated is Hennessy Energy Transition Fund (HNRIX) (Energy Equities) with a 1Y correlation of -0.01, down from 0.33 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Hennessy Energy Transition Fund | -0.01 | 0.21 | 0.33 | 72 | Energy Equities | HTECX vs HNRIX | |
| Hennessy Balanced Fund | 0.07 | 0.31 | 0.44 | 89 | Diversified Portfolio | HTECX vs HBFBX | |
| Hennessy Cornerstone Value Fund | 0.14 | 0.34 | 0.47 | 95 | Large Cap Value Equities | HTECX vs HFCVX | |
| ARK Venture Fund | 0.38 | 0.57 | — | 99 | Technology Equities | HTECX vs ARKVX | |
| Hennessy Japan Small Cap Fund | 0.39 | 0.44 | 0.51 | 54 | Japan Equities, Asia Pacific Equities | HTECX vs HJPSX |
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