Looking to diversify beyond TNHIX? The mutual funds below have the lowest correlation with TNHIX — 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 TNHIX.
Best Diversifiers for TNHIX
3 mutual funds have low correlation with TNHIX (below 0.3), 1 of which are negatively correlated. The least correlated is Pioneer ILS Interval Fund (XILSX) (High Yield Bonds) with a 1Y correlation of -0.05, roughly unchanged from -0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Pioneer ILS Interval Fund | -0.05 | -0.07 | -0.02 | 100 | High Yield Bonds | TNHIX vs XILSX | |
| Cliffwater Corporate Lending Fund | 0.11 | 0.11 | 0.13 | 100 | High Yield Bonds | TNHIX vs CCLFX | |
| RiverPark Short Term High Yield Fund | 0.17 | 0.23 | 0.28 | 99 | High Yield Bonds | TNHIX vs RPHIX | |
| Federated Hermes High-Yield Strategy Portfolio | 0.39 | 0.59 | 0.71 | 69 | High Yield Bonds | TNHIX vs FHYSX | |
| T. Rowe Price Floating Rate Fund | 0.44 | 0.41 | 0.48 | 96 | High Yield Bonds | TNHIX vs PRFRX |
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