Looking to diversify beyond SHOYX? The mutual funds below have the lowest correlation with SHOYX — 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 SHOYX.
Best Diversifiers for SHOYX
5 mutual funds have low correlation with SHOYX (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 0.03, roughly unchanged 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 | 0.05 | 0.09 | 100 | High Yield Bonds | SHOYX vs CCLFX | |
| Pioneer ILS Interval Fund | 0.07 | 0.06 | 0.04 | 100 | High Yield Bonds | SHOYX vs XILSX | |
| RiverPark Short Term High Yield Fund | 0.16 | 0.20 | 0.27 | 99 | High Yield Bonds | SHOYX vs RPHIX | |
| American Beacon AHL Managed Futures Strategy Fund | 0.24 | -0.00 | -0.06 | 88 | Systematic Trend | SHOYX vs AHLPX | |
| Northeast Investors Trust | 0.26 | 0.33 | 0.42 | 80 | High Yield Bonds | SHOYX vs NTHEX |
See all 159 diversifiers for SHOYX
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