Looking to diversify beyond BRHYX? The mutual funds below have the lowest correlation with BRHYX — 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 BRHYX.
Best Diversifiers for BRHYX
7 mutual funds have low correlation with BRHYX (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 0.10, roughly unchanged from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Cliffwater Corporate Lending Fund | 0.10 | 0.09 | 0.12 | 100 | High Yield Bonds | BRHYX vs CCLFX | |
| Pioneer ILS Interval Fund | 0.11 | 0.08 | 0.06 | 100 | High Yield Bonds | BRHYX vs XILSX | |
| Baird Ultra Short Bond Fund Institutional Class | 0.12 | 0.15 | 0.15 | 100 | Ultrashort Bond | BRHYX vs BUBIX | |
| BlackRock Global Long/Short Equity Fund Class I | 0.16 | 0.09 | 0.04 | 95 | Long-Short | BRHYX vs BDMIX | |
| Vanguard Short-Term Inflation-Protected Securities... | 0.16 | 0.30 | 0.29 | 88 | Inflation-Protected Bonds | BRHYX vs VTIPX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from BRHYX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BRHYX and solid risk/return profiles. The least correlated is U.S. Bancorp (USB) (Financial Services) with a 1Y correlation of 0.36, roughly unchanged from 0.39 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| U.S. Bancorp | 0.36 | 0.40 | 0.39 | 83 | Financial Services |
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