Looking to diversify beyond FHYSX? The mutual funds below have historically moved differently from FHYSX, 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 FHYSX
26 mutual funds have low correlation with FHYSX (below 0.3), 3 of which are negatively correlated. The least correlated is Fairholme Focused Income Fund (FOCIX) (High Yield Bonds) with a 1Y correlation of -0.19, down from 0.24 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fairholme Focused Income Fund | -0.19 | 0.08 | 0.24 | 73 | High Yield Bonds | FHYSX vs FOCIX | |
| Federated Hermes Project and Trade Finance Tender ... | -0.01 | 0.03 | 0.03 | 93 | Bank Loan | FHYSX vs XPTFX | |
| RiverPark Short Term High Yield Fund | -0.00 | 0.08 | 0.20 | 100 | High Yield Bonds | FHYSX vs RPHIX | |
| Federated Hermes MDT Market Neutral A | 0.01 | 0.01 | — | 54 | Long-Short | FHYSX vs QAMNX | |
| Federated Hermes MDT Market Neutral Fund Instituti... | 0.02 | 0.01 | — | 54 | Equity Market Neutral | FHYSX vs QQMNX |
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