Looking to diversify beyond RITGX? The mutual funds below have the lowest correlation with RITGX — 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 RITGX.
Best Diversifiers for RITGX
4 mutual funds have low correlation with RITGX (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 0.04, 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 | 0.05 | 0.09 | 0.10 | 100 | High Yield Bonds | RITGX vs CCLFX | |
| Pioneer ILS Interval Fund | 0.12 | 0.13 | 0.09 | 100 | High Yield Bonds | RITGX vs XILSX | |
| Nationwide Amundi Strategic Income Fund | 0.16 | 0.28 | 0.23 | 99 | Multisector Bonds | RITGX vs NWXHX | |
| RiverPark Short Term High Yield Fund | 0.17 | 0.17 | 0.26 | 100 | High Yield Bonds | RITGX vs RPHIX | |
| Pioneer Corporate High Yield Fund | 0.31 | 0.64 | 0.76 | 55 | High Yield Bonds | RITGX vs RCRYX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from RITGX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to RITGX and solid risk/return profiles. The least correlated is Exxon Mobil Corporation (XOM) (Energy) with a 1Y correlation of -0.26, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Exxon Mobil Corporation | -0.26 | 0.02 | 0.13 | 85 | Energy | |
| Altria Group, Inc. | -0.12 | 0.06 | 0.10 | 69 | Consumer Defensive | |
| The Coca-Cola Company | 0.02 | 0.07 | 0.13 | 66 | Consumer Defensive | |
| Walmart Inc. | 0.05 | 0.15 | 0.18 | 63 | Consumer Defensive | |
| NVIDIA Corporation | 0.20 | 0.23 | 0.34 | 78 | Technology |
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