Looking to diversify beyond BHYAX? The mutual funds below have the lowest correlation with BHYAX — 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 BHYAX.
Best Diversifiers for BHYAX
5 mutual funds have low correlation with BHYAX (below 0.3), 0 of which are negatively correlated. The least correlated is Cliffwater Corporate Lending Fund (CCLFX) (High Yield Bonds) with a 1Y correlation of 0.07, roughly unchanged from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Cliffwater Corporate Lending Fund | 0.07 | 0.09 | 0.11 | 100 | High Yield Bonds | BHYAX vs CCLFX | |
| Pioneer ILS Interval Fund | 0.11 | 0.09 | 0.06 | 100 | High Yield Bonds | BHYAX vs XILSX | |
| BlackRock Global Long/Short Equity Fund Class I | 0.18 | 0.12 | 0.06 | 95 | Long-Short | BHYAX vs BDMIX | |
| AlphaSimplex Managed Futures Strategy Fund Class Y | 0.20 | 0.05 | -0.09 | 60 | Systematic Trend | BHYAX vs ASFYX | |
| RiverPark Short Term High Yield Fund | 0.23 | 0.19 | 0.26 | 99 | High Yield Bonds | BHYAX vs RPHIX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from BHYAX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BHYAX and solid risk/return profiles. The least correlated is U.S. Bancorp (USB) (Financial Services) with a 1Y correlation of 0.33, roughly unchanged from 0.38 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| U.S. Bancorp | 0.33 | 0.38 | 0.38 | 83 | Financial Services |
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