Looking to diversify beyond ABHIX? The mutual funds below have the lowest correlation with ABHIX — 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 ABHIX.
Best Diversifiers for ABHIX
3 mutual funds have low correlation with ABHIX (below 0.3), 0 of which are negatively correlated. The least correlated is Pioneer ILS Interval Fund (XILSX) (High Yield Bonds) with a 1Y correlation of 0.05, roughly unchanged from 0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Pioneer ILS Interval Fund | 0.05 | 0.08 | 0.05 | 100 | High Yield Bonds | ABHIX vs XILSX | |
| Cliffwater Corporate Lending Fund | 0.06 | 0.09 | 0.09 | 100 | High Yield Bonds | ABHIX vs CCLFX | |
| RiverPark Short Term High Yield Fund | 0.24 | 0.15 | 0.25 | 100 | High Yield Bonds | ABHIX vs RPHIX | |
| T. Rowe Price Floating Rate Fund | 0.38 | 0.40 | 0.48 | 96 | High Yield Bonds | ABHIX vs PRFRX | |
| Federated Hermes High-Yield Strategy Portfolio | 0.47 | 0.67 | 0.80 | 71 | High Yield Bonds | ABHIX vs FHYSX |
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