Looking to diversify beyond HYT? The mutual funds below have historically moved differently from HYT, 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 HYT
8 mutual funds have low correlation with HYT (below 0.3), 1 of which are negatively correlated. The least correlated is Fairholme Focused Income Fund (FOCIX) (High Yield Bonds) with a 1Y correlation of -0.04, down from 0.32 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fairholme Focused Income Fund | -0.04 | 0.18 | 0.32 | 64 | High Yield Bonds | HYT vs FOCIX | |
| Pioneer ILS Interval Fund | 0.04 | 0.05 | 0.03 | 100 | High Yield Bonds | HYT vs XILSX | |
| RiverPark Short Term High Yield Fund | 0.07 | 0.08 | 0.14 | 100 | High Yield Bonds | HYT vs RPHIX | |
| Cliffwater Corporate Lending Fund Class I Shares | 0.14 | 0.09 | 0.09 | 100 | Bank Loan, High Yield Bonds | HYT vs CCLFX | |
| BlackRock Global Equity Market Neutral Fund Class ... | 0.17 | 0.08 | 0.03 | 97 | Equity Market Neutral | HYT vs BDMIX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for HYT, 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 Realty Income Corporation (O) (Real Estate) with a 1Y correlation of -0.03, down from 0.25 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Realty Income Corporation | -0.03 | 0.14 | 0.25 | 69 | Real Estate | |
| STAG Industrial, Inc. | 0.17 | 0.28 | 0.36 | 59 | Real Estate | |
| Reaves Utility Income Trust | 0.22 | 0.28 | 0.34 | 53 | Financial Services | |
| Cohen & Steers Quality Income Realty Fund, Inc. | 0.25 | 0.36 | 0.46 | 64 | Financial Services | |
| Cohen & Steers Infrastructure Fund, Inc | 0.26 | 0.33 | 0.39 | 66 | Financial Services |
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