Looking to diversify beyond SHIAX? The mutual funds below have the lowest correlation with SHIAX — 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 SHIAX.
Best Diversifiers for SHIAX
3 mutual funds have low correlation with SHIAX (below 0.3), 1 of which are negatively correlated. The least correlated is Cliffwater Corporate Lending Fund (CCLFX) (High Yield Bonds) with a 1Y correlation of -0.03, down from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Cliffwater Corporate Lending Fund | -0.03 | 0.04 | 0.09 | 100 | High Yield Bonds | SHIAX vs CCLFX | |
| Pioneer ILS Interval Fund | 0.07 | 0.06 | 0.04 | 100 | High Yield Bonds | SHIAX vs XILSX | |
| RiverPark Short Term High Yield Fund | 0.20 | 0.16 | 0.23 | 100 | High Yield Bonds | SHIAX vs RPHIX | |
| Franklin Income Fund Advisor Class | 0.39 | 0.48 | 0.50 | 92 | Diversified Portfolio | SHIAX vs FRIAX | |
| Franklin Income Fund Class A1 | 0.41 | 0.51 | 0.52 | 87 | Diversified Portfolio | SHIAX vs FKINX |
See all 21 diversifiers for SHIAX
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