Looking to diversify beyond IHIAX? The mutual funds below have historically moved differently from IHIAX, 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 IHIAX
1 mutual funds have low correlation with IHIAX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes Strategic Value Dividend Fund (SVAIX) (Large Cap Value Equities) with a 1Y correlation of 0.17, down from 0.31 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Strategic Value Dividend Fund | 0.17 | 0.32 | 0.31 | 95 | Large Cap Value Equities | IHIAX vs SVAIX | |
| Federated Hermes High-Yield Strategy Portfolio | 0.38 | 0.50 | 0.56 | 62 | High Yield Bonds | IHIAX vs FHYSX | |
| Federated Hermes MDT All Cap Core Fund | 0.42 | 0.34 | 0.34 | 52 | Large Cap Blend Equities | IHIAX vs QIACX | |
| Federated Hermes Institutional High Yield Bond Fun... | 0.43 | 0.52 | 0.57 | 51 | High Yield Bonds | IHIAX vs FIHBX | |
| DoubleLine Low Duration Emerging Markets Fixed Inc... | 0.43 | 0.52 | 0.59 | 96 | Emerging Markets Bonds | IHIAX vs DBLLX |
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