Looking to diversify beyond PLHIX? The mutual funds below have historically moved differently from PLHIX, 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 PLHIX
5 mutual funds have low correlation with PLHIX (below 0.3), 2 of which are negatively correlated. The least correlated is Fairholme Focused Income Fund (FOCIX) (High Yield Bonds) with a 1Y correlation of -0.02, down from 0.34 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fairholme Focused Income Fund | -0.02 | 0.24 | 0.34 | 73 | High Yield Bonds | PLHIX vs FOCIX | |
| Pioneer ILS Interval Fund | -0.01 | 0.00 | 0.01 | 100 | High Yield Bonds | PLHIX vs XILSX | |
| RiverPark Short Term High Yield Fund | 0.10 | 0.21 | 0.27 | 100 | High Yield Bonds | PLHIX vs RPHIX | |
| Cliffwater Corporate Lending Fund Class I Shares | 0.11 | 0.13 | 0.14 | 100 | Bank Loan, High Yield Bonds | PLHIX vs CCLFX | |
| Pacific Funds Ultra Short Income | 0.22 | 0.18 | 0.25 | 99 | Ultrashort Bond | PLHIX vs PLUIX |
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