Looking to diversify beyond MHCAX? The mutual funds below have the lowest correlation with MHCAX — 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 MHCAX.
Best Diversifiers for MHCAX
4 mutual funds have low correlation with MHCAX (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 -0.00 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Pioneer ILS Interval Fund | -0.06 | -0.01 | -0.00 | 100 | High Yield Bonds | MHCAX vs XILSX | |
| Cliffwater Corporate Lending Fund | 0.09 | 0.11 | 0.12 | 100 | High Yield Bonds | MHCAX vs CCLFX | |
| RiverPark Short Term High Yield Fund | 0.14 | 0.17 | 0.28 | 99 | High Yield Bonds | MHCAX vs RPHIX | |
| MainStay MacKay Short Term Municipal Fund | 0.27 | 0.31 | 0.31 | 79 | Municipal Bonds | MHCAX vs MSTIX | |
| Federated Hermes High-Yield Strategy Portfolio | 0.33 | 0.55 | 0.71 | 69 | High Yield Bonds | MHCAX vs FHYSX |
See all 47 diversifiers for MHCAX
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