Looking to diversify beyond CHYDX? The mutual funds below have the lowest correlation with CHYDX — 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 CHYDX.
Best Diversifiers for CHYDX
5 mutual funds have low correlation with CHYDX (below 0.3), 0 of which are negatively correlated. The least correlated is Pioneer ILS Interval Fund (XILSX) (High Yield Bonds) with a 1Y correlation of 0.02, roughly unchanged from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Pioneer ILS Interval Fund | 0.02 | 0.04 | 0.03 | 100 | High Yield Bonds | CHYDX vs XILSX | |
| Calamos Aksia Alternative Credit and Income Fund C... | 0.07 | 0.12 | 0.12 | 98 | Bank Loan | CHYDX vs CAPIX | |
| Cliffwater Corporate Lending Fund | 0.13 | 0.14 | 0.15 | 100 | High Yield Bonds | CHYDX vs CCLFX | |
| RiverPark Short Term High Yield Fund | 0.16 | 0.17 | 0.27 | 99 | High Yield Bonds | CHYDX vs RPHIX | |
| Pioneer Corporate High Yield Fund | 0.21 | 0.52 | 0.67 | 52 | High Yield Bonds | CHYDX vs RCRYX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CHYDX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CHYDX and solid risk/return profiles. The least correlated is Cohen & Steers Infrastructure Fund, Inc (UTF) (Financial Services) with a 1Y correlation of 0.32, roughly unchanged from 0.40 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cohen & Steers Infrastructure Fund, Inc | 0.32 | 0.35 | 0.40 | 69 | Financial Services |
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