Looking to diversify beyond DHEAX? The mutual funds below have historically moved differently from DHEAX, 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 DHEAX
23 mutual funds have low correlation with DHEAX (below 0.3), 1 of which are negatively correlated. The least correlated is Payden Floating Rate Fund (PYFRX) (Bank Loan) with a 1Y correlation of -0.07, down from 0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Payden Floating Rate Fund | -0.07 | 0.02 | 0.09 | 98 | Bank Loan | DHEAX vs PYFRX | |
| CrossingBridge Low Duration High Yield Fund | 0.05 | 0.13 | 0.12 | 95 | Multisector Bonds | DHEAX vs CBLDX | |
| Invesco Value Opportunities Fund | 0.08 | 0.04 | 0.04 | 70 | Mid Cap Value Equities | DHEAX vs VVOAX | |
| Nationwide Strategic Income A | 0.09 | 0.27 | 0.17 | 99 | Multisector Bonds | DHEAX vs NWXEX | |
| Leader Short Term High Yield Bond Fund | 0.10 | 0.09 | 0.18 | 77 | Short-Term Bond | DHEAX vs LCCMX |
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