Looking to diversify beyond GHY? The mutual funds below have the lowest correlation with GHY — 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 GHY.
Best Diversifiers for GHY
9 mutual funds have low correlation with GHY (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 -0.02, roughly unchanged from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Pioneer ILS Interval Fund | -0.02 | 0.02 | 0.03 | 100 | High Yield Bonds | GHY vs XILSX | |
| RiverPark Short Term High Yield Fund | 0.00 | 0.07 | 0.14 | 100 | High Yield Bonds | GHY vs RPHIX | |
| Cliffwater Corporate Lending Fund | 0.06 | 0.11 | 0.09 | 100 | High Yield Bonds | GHY vs CCLFX | |
| Pioneer Corporate High Yield Fund | 0.18 | 0.26 | 0.37 | 58 | High Yield Bonds | GHY vs RCRYX | |
| PGIM Short Duration Multi-Sector Bond Fund | 0.23 | 0.18 | 0.25 | 65 | Short-Term Bond | GHY vs SDMZX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from GHY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to GHY and solid risk/return profiles. The least correlated is Spire Inc. (SR) (Utilities) with a 1Y correlation of -0.02, down from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Spire Inc. | -0.02 | 0.12 | 0.17 | 60 | Utilities | |
| Reaves Utility Income Trust | 0.23 | 0.25 | 0.35 | 79 | Financial Services | |
| Nuveen AMT-Free Municipal Credit Income Fund | 0.24 | 0.33 | 0.34 | 75 | Financial Services | |
| AGNC Investment Corp. | 0.35 | 0.36 | 0.41 | 77 | Real Estate |
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