Looking to diversify beyond MHCAX? The mutual funds below have historically moved differently from MHCAX, 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 MHCAX
7 mutual funds have low correlation with MHCAX (below 0.3), 2 of which are negatively correlated. The least correlated is Pioneer ILS Interval Fund (XILSX) (High Yield Bonds) with a 1Y correlation of -0.08, roughly unchanged from -0.00 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Pioneer ILS Interval Fund | -0.08 | -0.01 | -0.00 | 100 | High Yield Bonds | MHCAX vs XILSX | |
| MainStay Cushing MLP Premier Fund | -0.08 | 0.25 | 0.36 | 77 | Energy Equities | MHCAX vs CSHZX | |
| Fairholme Focused Income Fund | 0.02 | 0.23 | 0.35 | 73 | High Yield Bonds | MHCAX vs FOCIX | |
| Cliffwater Corporate Lending Fund Class I Shares | 0.11 | 0.10 | 0.12 | 100 | Bank Loan, High Yield Bonds | MHCAX vs CCLFX | |
| RiverPark Short Term High Yield Fund | 0.13 | 0.18 | 0.28 | 100 | High Yield Bonds | MHCAX vs RPHIX |
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