Looking to diversify beyond RYHDX? The mutual funds below have historically moved differently from RYHDX, 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 RYHDX
6 mutual funds have low correlation with RYHDX (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 -0.01, 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 | -0.01 | 0.23 | 0.34 | 73 | High Yield Bonds | RYHDX vs FOCIX | |
| Pioneer ILS Interval Fund | -0.00 | 0.01 | 0.02 | 100 | High Yield Bonds | RYHDX vs XILSX | |
| Cliffwater Corporate Lending Fund Class I Shares | 0.12 | 0.09 | 0.07 | 100 | Bank Loan, High Yield Bonds | RYHDX vs CCLFX | |
| RiverPark Short Term High Yield Fund | 0.18 | 0.14 | 0.16 | 100 | High Yield Bonds | RYHDX vs RPHIX | |
| T. Rowe Price Floating Rate Fund - Investor Class | 0.25 | 0.25 | 0.26 | 90 | High Yield Bonds | RYHDX vs PRFRX |
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