Looking to diversify beyond NMHYX? The mutual funds below have the lowest correlation with NMHYX — 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 NMHYX.
Best Diversifiers for NMHYX
5 mutual funds have low correlation with NMHYX (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 -0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Pioneer ILS Interval Fund | -0.08 | -0.06 | -0.03 | 100 | High Yield Bonds | NMHYX vs XILSX | |
| Cliffwater Corporate Lending Fund | -0.02 | 0.08 | 0.12 | 100 | High Yield Bonds | NMHYX vs CCLFX | |
| BlackRock Global Long/Short Equity Fund Class I | 0.09 | 0.08 | 0.04 | 95 | Long-Short | NMHYX vs BDMIX | |
| RiverPark Short Term High Yield Fund | 0.15 | 0.22 | 0.29 | 99 | High Yield Bonds | NMHYX vs RPHIX | |
| AlphaSimplex Managed Futures Strategy Fund Class Y | 0.21 | 0.07 | -0.06 | 60 | Systematic Trend | NMHYX vs ASFYX |
See all 34 diversifiers for NMHYX
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