Looking to diversify beyond MHD? The mutual funds below have the lowest correlation with MHD — 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 MHD.
Best Diversifiers for MHD
19 mutual funds have low correlation with MHD (below 0.3), 2 of which are negatively correlated. The least correlated is DFA California Municipal Real Return Portfolio (DCARX) (Municipal Bonds) with a 1Y correlation of -0.08, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA California Municipal Real Return Portfolio | -0.08 | 0.08 | 0.13 | 96 | Municipal Bonds | MHD vs DCARX | |
| DFA Municipal Real Return Portfolio | -0.03 | 0.08 | 0.14 | 95 | Municipal Bonds | MHD vs DMREX | |
| DFA Short Term Municipal Bond Portfolio | 0.01 | 0.10 | 0.18 | 99 | Municipal Bonds | MHD vs DFSMX | |
| AlphaSimplex Managed Futures Strategy Fund Class Y | 0.03 | -0.09 | -0.18 | 67 | Systematic Trend | MHD vs ASFYX | |
| DFA California Short Term Municipal Bond Portfolio | 0.09 | 0.17 | 0.23 | 99 | Municipal Bonds | MHD vs DFCMX |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MHD, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MHD and solid risk/return profiles. The least correlated is Nuveen AMT-Free Municipal Credit Income Fund (NVG) (Financial Services) with a 1Y correlation of 0.51, down from 0.63 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Nuveen AMT-Free Municipal Credit Income Fund | 0.51 | 0.66 | 0.63 | 74 | Financial Services |
Build a portfolio that complements MHD
Add MHD to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with MHD