Looking to diversify beyond SHYAX? The mutual funds below have the lowest correlation with SHYAX — 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 SHYAX.
Best Diversifiers for SHYAX
6 mutual funds have low correlation with SHYAX (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 -0.07, down from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Cliffwater Corporate Lending Fund | -0.07 | 0.05 | 0.07 | 100 | High Yield Bonds | SHYAX vs CCLFX | |
| Pioneer ILS Interval Fund | 0.05 | 0.09 | 0.06 | 100 | High Yield Bonds | SHYAX vs XILSX | |
| BlackRock Global Long/Short Equity Fund Class I | 0.06 | 0.04 | 0.01 | 92 | Long-Short | SHYAX vs BDMIX | |
| RiverPark Short Term High Yield Fund | 0.12 | 0.15 | 0.23 | 100 | High Yield Bonds | SHYAX vs RPHIX | |
| AlphaSimplex Managed Futures Strategy Fund Class Y | 0.19 | 0.04 | -0.07 | 67 | Systematic Trend | SHYAX vs ASFYX |
See all 35 diversifiers for SHYAX
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