Looking to diversify beyond RPHIX? The mutual funds below have the lowest correlation with RPHIX — 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 RPHIX.
Best Diversifiers for RPHIX
159 mutual funds have low correlation with RPHIX (below 0.3), 2 of which are negatively correlated. The least correlated is Federated Hermes High-Yield Strategy Portfolio (FHYSX) (High Yield Bonds) with a 1Y correlation of -0.04, down from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes High-Yield Strategy Portfolio | -0.04 | 0.07 | 0.20 | 76 | High Yield Bonds | RPHIX vs FHYSX | |
| Federated Hermes Opportunistic High Yield Bond Fun... | -0.00 | 0.11 | 0.23 | 56 | High Yield Bonds | RPHIX vs FHYTX | |
| Pioneer Corporate High Yield Fund | 0.01 | 0.12 | 0.22 | 59 | High Yield Bonds | RPHIX vs RCRYX | |
| Federated Hermes Institutional High Yield Bond Fun... | 0.03 | 0.11 | 0.23 | 69 | High Yield Bonds | RPHIX vs FIHBX | |
| T. Rowe Price Ultra Short-Term Bond Fund | 0.04 | -0.01 | 0.02 | 99 | Ultrashort Bond | RPHIX vs TRBUX |
See all 160 diversifiers for RPHIX
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