Looking to diversify beyond GHY? The mutual funds below have historically moved differently from GHY, 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 GHY
8 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 -0.04, 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 | -0.04 | 0.01 | 0.02 | 100 | High Yield Bonds | GHY vs XILSX | |
| RiverPark Short Term High Yield Fund | 0.07 | 0.06 | 0.14 | 100 | High Yield Bonds | GHY vs RPHIX | |
| Fairholme Focused Income Fund | 0.07 | 0.18 | 0.30 | 73 | High Yield Bonds | GHY vs FOCIX | |
| RiverNorth Capital and Income Fund | 0.15 | 0.23 | 0.23 | 65 | High Yield Bonds | GHY vs RSF | |
| Cliffwater Corporate Lending Fund Class I Shares | 0.17 | 0.13 | 0.12 | 100 | Bank Loan, High Yield Bonds | GHY vs CCLFX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for GHY, 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 Spire Inc. (SR) (Utilities) with a 1Y correlation of -0.02, down from 0.16 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Spire Inc. | -0.02 | 0.12 | 0.16 | 60 | Utilities | |
| Nuveen AMT-Free Municipal Credit Income Fund | 0.29 | 0.34 | 0.35 | 79 | Financial Services | |
| Reaves Utility Income Trust | 0.29 | 0.27 | 0.35 | 55 | Financial Services | |
| AGNC Investment Corp. | 0.40 | 0.37 | 0.41 | 79 | Real Estate |
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