Looking to diversify beyond PHYZX? The mutual funds below have the lowest correlation with PHYZX — 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 PHYZX.
Best Diversifiers for PHYZX
3 mutual funds have low correlation with PHYZX (below 0.3), 0 of which are negatively correlated. The least correlated is Cliffwater Corporate Lending Fund (CCLFX) (High Yield Bonds) with a 1Y correlation of 0.03, roughly unchanged from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Cliffwater Corporate Lending Fund | 0.03 | 0.07 | 0.10 | 100 | High Yield Bonds | PHYZX vs CCLFX | |
| Pioneer ILS Interval Fund | 0.08 | 0.09 | 0.06 | 100 | High Yield Bonds | PHYZX vs XILSX | |
| RiverPark Short Term High Yield Fund | 0.18 | 0.19 | 0.25 | 100 | High Yield Bonds | PHYZX vs RPHIX | |
| T. Rowe Price Floating Rate Fund | 0.33 | 0.39 | 0.50 | 96 | High Yield Bonds | PHYZX vs PRFRX | |
| RiverPark Strategic Income Fund | 0.37 | 0.29 | 0.35 | 68 | High Yield Bonds | PHYZX vs RSIIX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PHYZX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PHYZX and solid risk/return profiles. The least correlated is Vale S.A. (VALE) (Basic Materials) with a 1Y correlation of 0.32, roughly unchanged from 0.26 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Vale S.A. | 0.32 | 0.27 | 0.26 | 92 | Basic Materials |
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