Looking to diversify beyond FHYTX? The mutual funds below have historically moved differently from FHYTX, 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 FHYTX
12 mutual funds have low correlation with FHYTX (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 -0.17, down from 0.31 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fairholme Focused Income Fund | -0.17 | 0.11 | 0.31 | 73 | High Yield Bonds | FHYTX vs FOCIX | |
| Federated Hermes Project and Trade Finance Tender ... | -0.03 | 0.08 | 0.05 | 93 | Bank Loan | FHYTX vs XPTFX | |
| Federated Hermes MDT Market Neutral A | -0.01 | 0.03 | — | 54 | Long-Short | FHYTX vs QAMNX | |
| Federated Hermes MDT Market Neutral Fund Instituti... | 0.01 | 0.03 | — | 54 | Equity Market Neutral | FHYTX vs QQMNX | |
| RiverPark Short Term High Yield Fund | 0.02 | 0.12 | 0.23 | 100 | High Yield Bonds | FHYTX vs RPHIX |
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