Looking to diversify beyond FTHY? The mutual funds below have historically moved differently from FTHY, 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 FTHY
9 mutual funds have low correlation with FTHY (below 0.3), 1 of which are negatively correlated. The least correlated is Pioneer ILS Interval Fund (XILSX) (High Yield Bonds) with a 1Y correlation of -0.00, roughly unchanged from 0.02 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Pioneer ILS Interval Fund | -0.00 | 0.06 | 0.02 | 100 | High Yield Bonds | FTHY vs XILSX | |
| RiverPark Short Term High Yield Fund | 0.09 | 0.09 | 0.14 | 99 | High Yield Bonds | FTHY vs RPHIX | |
| RiverNorth Capital and Income Fund | 0.09 | 0.23 | 0.23 | 59 | High Yield Bonds | FTHY vs RSF | |
| Cliffwater Corporate Lending Fund Class I Shares | 0.11 | 0.03 | 0.08 | 100 | Bank Loan, High Yield Bonds | FTHY vs CCLFX | |
| Fairholme Focused Income Fund | 0.13 | 0.22 | 0.32 | 70 | High Yield Bonds | FTHY vs FOCIX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FTHY, 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 Reaves Utility Income Trust (UTG) (Financial Services) with a 1Y correlation of 0.27, roughly unchanged from 0.31 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Reaves Utility Income Trust | 0.27 | 0.28 | 0.31 | 55 | Financial Services | |
| AGNC Investment Corp. | 0.41 | 0.39 | 0.41 | 78 | Real Estate |
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