Looking to diversify beyond MHITX? The mutual funds below have historically moved differently from MHITX, 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 MHITX
4 mutual funds have low correlation with MHITX (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 0.27 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 | 0.14 | 0.27 | 73 | High Yield Bonds | MHITX vs FOCIX | |
| Pioneer ILS Interval Fund | 0.05 | 0.05 | 0.04 | 100 | High Yield Bonds | MHITX vs XILSX | |
| Cliffwater Corporate Lending Fund Class I Shares | 0.11 | 0.11 | 0.11 | 100 | Bank Loan, High Yield Bonds | MHITX vs CCLFX | |
| RiverPark Short Term High Yield Fund | 0.15 | 0.20 | 0.26 | 100 | High Yield Bonds | MHITX vs RPHIX | |
| MFS Value Fund | 0.33 | 0.35 | 0.41 | 67 | Large Cap Value Equities | MHITX vs MEIAX |
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