Looking to diversify beyond SPHIX? The mutual funds below have historically moved differently from SPHIX, 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 SPHIX
5 mutual funds have low correlation with SPHIX (below 0.3), 2 of which are negatively correlated. The least correlated is Fidelity Select Energy Portfolio (FSENX) (Energy Equities) with a 1Y correlation of -0.18, down from 0.19 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | -0.18 | 0.09 | 0.19 | 87 | Energy Equities | SPHIX vs FSENX | |
| Fairholme Focused Income Fund | -0.08 | 0.19 | 0.30 | 73 | High Yield Bonds | SPHIX vs FOCIX | |
| Pioneer ILS Interval Fund | 0.09 | 0.07 | 0.06 | 100 | High Yield Bonds | SPHIX vs XILSX | |
| Cliffwater Corporate Lending Fund Class I Shares | 0.11 | 0.09 | 0.12 | 100 | Bank Loan, High Yield Bonds | SPHIX vs CCLFX | |
| RiverPark Short Term High Yield Fund | 0.18 | 0.20 | 0.26 | 100 | High Yield Bonds | SPHIX vs RPHIX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for SPHIX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Ellington Financial Inc. (EFC) (Real Estate) with a 1Y correlation of 0.27, down from 0.39 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Ellington Financial Inc. | 0.27 | 0.40 | 0.39 | 71 | Real Estate |
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