Looking to diversify beyond FHIFX? The mutual funds below have historically moved differently from FHIFX, 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 FHIFX
4 mutual funds have low correlation with FHIFX (below 0.3), 1 of which are negatively correlated. The least correlated is Fairholme Focused Income Fund (FOCIX) (High Yield Bonds) with a 1Y correlation of -0.07, down from 0.28 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fairholme Focused Income Fund | -0.07 | 0.17 | 0.28 | 73 | High Yield Bonds | FHIFX vs FOCIX | |
| Pioneer ILS Interval Fund | 0.07 | 0.08 | 0.06 | 100 | High Yield Bonds | FHIFX vs XILSX | |
| Cliffwater Corporate Lending Fund Class I Shares | 0.12 | 0.11 | 0.12 | 100 | Bank Loan, High Yield Bonds | FHIFX vs CCLFX | |
| RiverPark Short Term High Yield Fund | 0.22 | 0.21 | 0.26 | 100 | High Yield Bonds | FHIFX vs RPHIX | |
| Fidelity Floating Rate High Income Fund | 0.40 | 0.44 | 0.47 | 95 | Bank Loan | FHIFX vs FFRHX |
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