Looking to diversify beyond FHRRX? The mutual funds below have historically moved differently from FHRRX, 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 FHRRX
12 mutual funds have low correlation with FHRRX (below 0.3), 2 of which are negatively correlated. The least correlated is Cliffwater Corporate Lending Fund Class I Shares (CCLFX) (Bank Loan) with a 1Y correlation of -0.06, down from 0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Cliffwater Corporate Lending Fund Class I Shares | -0.06 | 0.05 | 0.07 | 100 | Bank Loan, High Yield Bonds | FHRRX vs CCLFX | |
| Fairholme Focused Income Fund | -0.02 | 0.19 | 0.29 | 73 | High Yield Bonds | FHRRX vs FOCIX | |
| Pioneer ILS Interval Fund | 0.02 | 0.05 | 0.03 | 100 | High Yield Bonds | FHRRX vs XILSX | |
| RiverPark Short Term High Yield Fund | 0.08 | 0.17 | 0.21 | 100 | High Yield Bonds | FHRRX vs RPHIX | |
| Fidelity Capital & Income Fund | 0.26 | 0.37 | 0.54 | 74 | High Yield Bonds | FHRRX vs FAGIX |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FHRRX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Gold Fields Limited (GFI) (Basic Materials) with a 1Y correlation of 0.23, roughly unchanged from 0.16 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Gold Fields Limited | 0.23 | 0.16 | 0.16 | 64 | Basic Materials |
Build a portfolio that complements FHRRX
Add FHRRX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with FHRRX