Looking to diversify beyond HIO? The mutual funds below have the lowest correlation with HIO — 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 HIO.
Best Diversifiers for HIO
6 mutual funds have low correlation with HIO (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 -0.06, 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 | -0.06 | 0.05 | 0.03 | 100 | High Yield Bonds | HIO vs XILSX | |
| RiverPark Short Term High Yield Fund | 0.06 | 0.11 | 0.17 | 99 | High Yield Bonds | HIO vs RPHIX | |
| Cliffwater Corporate Lending Fund | 0.11 | 0.09 | 0.08 | 100 | High Yield Bonds | HIO vs CCLFX | |
| Pioneer Corporate High Yield Fund | 0.23 | 0.25 | 0.36 | 52 | High Yield Bonds | HIO vs RCRYX | |
| RiverPark Strategic Income Fund | 0.26 | 0.21 | 0.25 | 68 | High Yield Bonds | HIO vs RSIIX |
See all 26 diversifiers for HIO
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Diversification Analysis
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