Looking to diversify beyond HIO? The mutual funds below have historically moved differently from HIO, 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 HIO
7 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.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Pioneer ILS Interval Fund | -0.06 | 0.04 | 0.03 | 100 | High Yield Bonds | HIO vs XILSX | |
| Fairholme Focused Income Fund | 0.03 | 0.17 | 0.31 | 73 | High Yield Bonds | HIO vs FOCIX | |
| RiverNorth Capital and Income Fund | 0.06 | 0.17 | 0.17 | 65 | High Yield Bonds | HIO vs RSF | |
| RiverPark Short Term High Yield Fund | 0.06 | 0.09 | 0.17 | 100 | High Yield Bonds | HIO vs RPHIX | |
| Cliffwater Corporate Lending Fund Class I Shares | 0.13 | 0.11 | 0.08 | 100 | Bank Loan, High Yield Bonds | HIO vs CCLFX |
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