Looking to diversify beyond DHLAX? The mutual funds below have historically moved differently from DHLAX, 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 DHLAX
4 mutual funds have low correlation with DHLAX (below 0.3), 0 of which are negatively correlated. The least correlated is Diamond Hill Short Duration Securitized Bond Fund (DHEAX) (Short-Term Bond) with a 1Y correlation of 0.16, roughly unchanged from 0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Diamond Hill Short Duration Securitized Bond Fund | 0.16 | 0.11 | 0.10 | 99 | Short-Term Bond | DHLAX vs DHEAX | |
| Rational Equity Armor Fund | 0.17 | 0.44 | 0.60 | 51 | Large Cap Value Equities | DHLAX vs HDCTX | |
| Diamond Hill Short Duration Securitized Bond Fund ... | 0.23 | 0.12 | 0.11 | 99 | Short-Term Bond | DHLAX vs DHEIX | |
| AMG Yacktman Focused Fund | 0.29 | 0.57 | 0.72 | 93 | Large Cap Value Equities | DHLAX vs YAFFX | |
| Federated Hermes Equity Income Fund | 0.35 | 0.58 | 0.77 | 69 | Dividend, Large Cap Value Equities | DHLAX vs LEIFX |
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