Looking to diversify beyond PHIYX? The mutual funds below have historically moved differently from PHIYX, 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 PHIYX
6 mutual funds have low correlation with PHIYX (below 0.3), 2 of which are negatively correlated. The least correlated is PIMCO Commodity Real Return Strategy Fund (PCRIX) (Commodities) with a 1Y correlation of -0.18, down from 0.15 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PIMCO Commodity Real Return Strategy Fund | -0.18 | 0.04 | 0.15 | 69 | Commodities | PHIYX vs PCRIX | |
| Fairholme Focused Income Fund | -0.10 | 0.18 | 0.30 | 73 | High Yield Bonds | PHIYX vs FOCIX | |
| Pioneer ILS Interval Fund | 0.12 | 0.08 | 0.05 | 100 | High Yield Bonds | PHIYX vs XILSX | |
| Cliffwater Corporate Lending Fund Class I Shares | 0.15 | 0.11 | 0.12 | 100 | Bank Loan, High Yield Bonds | PHIYX vs CCLFX | |
| Fidelity Strategic Real Return Fund Class K6 | 0.20 | 0.40 | 0.46 | 91 | Diversified Portfolio | PHIYX vs FSRKX |
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