Looking to diversify beyond MHESX? The mutual funds below have historically moved differently from MHESX, 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 MHESX
12 mutual funds have low correlation with MHESX (below 0.3), 0 of which are negatively correlated. The least correlated is Northern Global Tactical Asset Allocation Fund (BBALX) (Global Allocation) with a 1Y correlation of 0.25, down from 0.60 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Northern Global Tactical Asset Allocation Fund | 0.25 | 0.34 | 0.60 | 69 | Global Allocation | MHESX vs BBALX | |
| Leuthold Global Fund | 0.28 | 0.31 | 0.54 | 86 | Global Allocation | MHESX vs GLBIX | |
| Franklin Global Allocation Fund | 0.28 | 0.35 | 0.61 | 70 | Global Allocation | MHESX vs FFAAX | |
| Allspring Absolute Return Fund | 0.28 | 0.31 | 0.42 | 86 | Global Allocation | MHESX vs WARAX | |
| Invesco Global Allocation Fund | 0.29 | 0.34 | 0.59 | 74 | Global Allocation | MHESX vs QVGIX |
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