Looking to diversify beyond DHPAX? The mutual funds below have the lowest correlation with DHPAX — 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 DHPAX.
Best Diversifiers for DHPAX
2 mutual funds have low correlation with DHPAX (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 0.19, up from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Diamond Hill Short Duration Securitized Bond Fund | 0.19 | 0.11 | 0.09 | 99 | Short-Term Bond | DHPAX vs DHEAX | |
| Diamond Hill Short Duration Securitized Bond Fund ... | 0.19 | 0.11 | 0.09 | 99 | Short-Term Bond | DHPAX vs DHEIX | |
| Invesco Value Opportunities Fund Class Y | 0.72 | 0.80 | 0.86 | 85 | Mid Cap Value Equities | DHPAX vs VVOIX | |
| Invesco Value Opportunities Fund | 0.72 | 0.80 | 0.86 | 84 | Mid Cap Value Equities | DHPAX vs VVOAX | |
| Invesco V.I. American Value Fund | 0.73 | 0.79 | 0.87 | 85 | Mid Cap Value Equities | DHPAX vs UMCVX |
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