Looking to diversify beyond BHYAX? The mutual funds below have historically moved differently from BHYAX, 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 BHYAX
6 mutual funds have low correlation with BHYAX (below 0.3), 1 of which are negatively correlated. The least correlated is Fairholme Focused Income Fund (FOCIX) (High Yield Bonds) with a 1Y correlation of -0.08, down from 0.33 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fairholme Focused Income Fund | -0.08 | 0.20 | 0.33 | 73 | High Yield Bonds | BHYAX vs FOCIX | |
| Cliffwater Corporate Lending Fund Class I Shares | 0.10 | 0.08 | 0.11 | 100 | Bank Loan, High Yield Bonds | BHYAX vs CCLFX | |
| Pioneer ILS Interval Fund | 0.11 | 0.09 | 0.05 | 100 | High Yield Bonds | BHYAX vs XILSX | |
| Virtus AlphaSimplex Managed Futures Strategy Fund ... | 0.18 | 0.05 | -0.10 | 66 | Systematic Trend | BHYAX vs ASFYX | |
| BlackRock Global Equity Market Neutral Fund Class ... | 0.19 | 0.12 | 0.06 | 97 | Equity Market Neutral | BHYAX vs BDMIX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for BHYAX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is U.S. Bancorp (USB) (Financial Services) with a 1Y correlation of 0.32, roughly unchanged from 0.37 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| U.S. Bancorp | 0.32 | 0.37 | 0.37 | 88 | Financial Services |
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