Looking to diversify beyond RNHIX? The mutual funds below have the lowest correlation with RNHIX — 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 RNHIX.
Best Diversifiers for RNHIX
3 mutual funds have low correlation with RNHIX (below 0.3), 1 of which are negatively correlated. The least correlated is Pioneer ILS Interval Fund (XILSX) (High Yield Bonds) with a 1Y correlation of -0.06, roughly unchanged from -0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Pioneer ILS Interval Fund | -0.06 | -0.03 | -0.01 | 100 | High Yield Bonds | RNHIX vs XILSX | |
| Cliffwater Corporate Lending Fund | 0.09 | 0.12 | 0.13 | 100 | High Yield Bonds | RNHIX vs CCLFX | |
| RiverPark Short Term High Yield Fund | 0.18 | 0.24 | 0.28 | 99 | High Yield Bonds | RNHIX vs RPHIX | |
| Federated Hermes High-Yield Strategy Portfolio | 0.39 | 0.57 | 0.70 | 69 | High Yield Bonds | RNHIX vs FHYSX | |
| T. Rowe Price Floating Rate Fund | 0.43 | 0.41 | 0.50 | 96 | High Yield Bonds | RNHIX vs PRFRX |
See all 25 diversifiers for RNHIX
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