Looking to diversify beyond NHFIX? The mutual funds below have historically moved differently from NHFIX, 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 NHFIX
4 mutual funds have low correlation with NHFIX (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 -0.07, roughly unchanged from -0.04 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Pioneer ILS Interval Fund | -0.07 | -0.07 | -0.04 | 100 | High Yield Bonds | NHFIX vs XILSX | |
| Fairholme Focused Income Fund | 0.00 | 0.20 | 0.33 | 73 | High Yield Bonds | NHFIX vs FOCIX | |
| Cliffwater Corporate Lending Fund Class I Shares | 0.03 | 0.08 | 0.12 | 100 | Bank Loan, High Yield Bonds | NHFIX vs CCLFX | |
| RiverPark Short Term High Yield Fund | 0.07 | 0.19 | 0.26 | 100 | High Yield Bonds | NHFIX vs RPHIX | |
| Pioneer Corporate High Yield Fund | 0.32 | 0.54 | 0.68 | 63 | High Yield Bonds | NHFIX vs RCRYX |
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