HC when volatile but uncorrelated

Quick question for anyone -

I’m of the understanding that HC, when it’s volatile but uncorrelated with financial markets, should essentially be trated the same as in the case of the tenured university professor with secure HC. Essentially, treat it as a FI asset and tilt your financial portfolio mroe toward equity. Only difference would be that you’d try to take less overall risk with your financial assets as this HC is afterall still risky.

This understanding correct? Any other imput people have?

Thanks

when its volatile it will have high discount rate so PV will be small thus equity like, so not sure how it will be FI like…what question is this from?

It doesn’t have to be FI like just because it’s uncorrelated with equities. I generally assume if HC is volatile and uncorrelated with equity it is more like an alternative asset that provides further diversification to the entire portfolio.