Looking to diversify beyond MHD? The mutual funds below have historically moved differently from MHD, 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 MHD
15 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 -0.04, down from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA California Municipal Real Return Portfolio | -0.04 | 0.08 | 0.13 | 89 | Municipal Bonds | MHD vs DCARX | |
| DFA Municipal Real Return Portfolio | -0.01 | 0.08 | 0.13 | 92 | Municipal Bonds | MHD vs DMREX | |
| Virtus AlphaSimplex Managed Futures Strategy Fund ... | 0.04 | -0.06 | -0.17 | 67 | Systematic Trend | MHD vs ASFYX | |
| DFA Short Term Municipal Bond Portfolio | 0.05 | 0.10 | 0.18 | 100 | Municipal Bonds | MHD vs DFSMX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.13 | 0.10 | 0.09 | 99 | Municipal Bonds | MHD vs TFCYX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for MHD, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| BlackRock Enhanced Large Cap Core Fund, Inc. | 0.29 | 0.28 | 0.28 | 89 | ||
| Nuveen AMT-Free Municipal Credit Income Fund | 0.54 | 0.65 | 0.63 | 76 | Financial Services |
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