Looking to diversify beyond ATPYX? The mutual funds below have historically moved differently from ATPYX, 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 ATPYX
2 mutual funds have low correlation with ATPYX (below 0.3), 0 of which are negatively correlated. The least correlated is RiverPark Short Term High Yield Fund (RPHIX) (High Yield Bonds) with a 1Y correlation of 0.07, roughly unchanged from 0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| RiverPark Short Term High Yield Fund | 0.07 | 0.07 | 0.07 | 100 | High Yield Bonds | ATPYX vs RPHIX | |
| Pioneer ILS Interval Fund | 0.13 | 0.13 | 0.13 | 100 | High Yield Bonds | ATPYX vs XILSX | |
| T. Rowe Price Floating Rate Fund - Investor Class | 0.35 | 0.35 | 0.35 | 90 | High Yield Bonds | ATPYX vs PRFRX | |
| RiverPark Strategic Income Fund | 0.42 | 0.42 | 0.42 | 69 | High Yield Bonds | ATPYX vs RSIIX | |
| Shenkman Capital Short Duration High Income Fund | 0.62 | 0.62 | 0.62 | 97 | High Yield Bonds | ATPYX vs SCFIX |
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