Looking to diversify beyond PSHYX? The mutual funds below have historically moved differently from PSHYX, 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 PSHYX
11 mutual funds have low correlation with PSHYX (below 0.3), 0 of which are negatively correlated. The least correlated is GuidePath Absolute Return Allocation Fund (GPARX) (Short-Term Bond) with a 1Y correlation of 0.12, down from 0.52 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| GuidePath Absolute Return Allocation Fund | 0.12 | 0.42 | 0.52 | 69 | Short-Term Bond | PSHYX vs GPARX | |
| Leader Short Term High Yield Bond Fund | 0.14 | 0.18 | 0.22 | 84 | Short-Term Bond | PSHYX vs LCCMX | |
| Pioneer Core Equity Fund | 0.14 | 0.09 | 0.10 | 70 | Large Cap Blend Equities | PSHYX vs PIOTX | |
| DFA Two-Year Fixed Income Portfolio | 0.19 | 0.04 | 0.33 | 100 | Short-Term Bond | PSHYX vs DFCFX | |
| Pioneer ILS Interval Fund | 0.19 | 0.11 | 0.10 | 100 | High Yield Bonds | PSHYX vs XILSX |
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