Looking to diversify beyond THOPX? The mutual funds below have historically moved differently from THOPX, 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 THOPX
8 mutual funds have low correlation with THOPX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Floating Rate High Income Fund (FFRHX) (Bank Loan) with a 1Y correlation of 0.00, down from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Floating Rate High Income Fund | 0.00 | 0.07 | 0.13 | 95 | Bank Loan | THOPX vs FFRHX | |
| Leader Short Term High Yield Bond Fund | 0.08 | 0.11 | 0.18 | 84 | Short-Term Bond | THOPX vs LCCMX | |
| GuidePath Absolute Return Allocation Fund | 0.12 | 0.48 | 0.54 | 69 | Short-Term Bond | THOPX vs GPARX | |
| DFA Two-Year Fixed Income Portfolio | 0.14 | 0.14 | 0.34 | 100 | Short-Term Bond | THOPX vs DFCFX | |
| PGIM Floating Rate Income Fund | 0.17 | 0.13 | 0.17 | 97 | Bank Loan | THOPX vs FRFZX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for THOPX, 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 Petróleo Brasileiro S.A. - Petrobras (PBR) (Energy) with a 1Y correlation of -0.17, down from -0.01 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Petróleo Brasileiro S.A. - Petrobras | -0.17 | -0.03 | -0.01 | 85 | Energy | |
| JBS N.V. | 0.22 | — | — | 52 | Consumer Defensive |
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