Looking to diversify beyond CHY? The mutual funds below have the lowest correlation with CHY — 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 CHY.
Best Diversifiers for CHY
2 mutual funds have low correlation with CHY (below 0.3), 0 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Calamos Aksia Alternative Credit and Income Fund C... | 0.06 | — | — | 98 | Bank Loan | CHY vs CAPIX | |
| Calamos Short-Term Bond Fund | 0.26 | 0.21 | 0.22 | 75 | Short-Term Bond | CHY vs CSTIX | |
| Calamos Market Neutral Income Fund Institutional C... | 0.39 | 0.39 | 0.51 | 98 | CHY vs CMNIX | ||
| Calamos High Income Opportunities Fund | 0.57 | 0.49 | 0.52 | 89 | High Yield Bonds | CHY vs CHYDX | |
| Adams Diversified Equity Fund, Inc. | 0.59 | 0.57 | 0.61 | 82 | Large Cap Blend Equities | CHY vs ADX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CHY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CHY and solid risk/return profiles. The least correlated is Hess Midstream LP (HESM) (Energy) with a 1Y correlation of -0.08, down from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Hess Midstream LP | -0.08 | 0.15 | 0.24 | 54 | Energy | |
| Enterprise Products Partners L.P. | -0.07 | 0.13 | 0.26 | 83 | Energy | |
| Antero Midstream Corporation | -0.04 | 0.22 | 0.32 | 84 | Energy | |
| Energy Transfer LP | -0.00 | 0.22 | 0.29 | 80 | Energy | |
| Western Midstream Partners, LP | 0.01 | 0.20 | 0.27 | 77 | Energy |
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