Looking to diversify beyond FSDHX? The mutual funds below have the lowest correlation with FSDHX — 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 FSDHX.
Best Diversifiers for FSDHX
3 mutual funds have low correlation with FSDHX (below 0.3), 0 of which are negatively correlated. The least correlated is Cliffwater Corporate Lending Fund (CCLFX) (High Yield Bonds) with a 1Y correlation of 0.05, roughly unchanged from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Cliffwater Corporate Lending Fund | 0.05 | 0.09 | 0.09 | 100 | High Yield Bonds | FSDHX vs CCLFX | |
| Pioneer ILS Interval Fund | 0.14 | 0.11 | 0.06 | 100 | High Yield Bonds | FSDHX vs XILSX | |
| RiverPark Short Term High Yield Fund | 0.20 | 0.18 | 0.25 | 100 | High Yield Bonds | FSDHX vs RPHIX | |
| Federated Hermes High-Yield Strategy Portfolio | 0.39 | 0.68 | 0.79 | 71 | High Yield Bonds | FSDHX vs FHYSX | |
| T. Rowe Price Floating Rate Fund | 0.42 | 0.46 | 0.53 | 96 | High Yield Bonds | FSDHX vs PRFRX |
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