Looking to diversify beyond DDJIX? The mutual funds below have historically moved differently from DDJIX, 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 DDJIX
4 mutual funds have low correlation with DDJIX (below 0.3), 2 of which are negatively correlated. The least correlated is Pioneer ILS Interval Fund (XILSX) (High Yield Bonds) with a 1Y correlation of -0.06, roughly unchanged from -0.03 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Pioneer ILS Interval Fund | -0.06 | -0.06 | -0.03 | 100 | High Yield Bonds | DDJIX vs XILSX | |
| Fairholme Focused Income Fund | -0.04 | 0.11 | 0.23 | 73 | High Yield Bonds | DDJIX vs FOCIX | |
| Cliffwater Corporate Lending Fund Class I Shares | 0.13 | 0.08 | 0.10 | 100 | Bank Loan, High Yield Bonds | DDJIX vs CCLFX | |
| RiverPark Short Term High Yield Fund | 0.21 | 0.22 | 0.27 | 100 | High Yield Bonds | DDJIX vs RPHIX | |
| Federated Hermes High-Yield Strategy Portfolio | 0.36 | 0.39 | 0.57 | 74 | High Yield Bonds | DDJIX vs FHYSX |
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