Looking to diversify beyond VHYAX? The mutual funds below have historically moved differently from VHYAX, 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 VHYAX
7 mutual funds have low correlation with VHYAX (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares (VTAPX) (Inflation-Protected Bonds) with a 1Y correlation of 0.07, roughly unchanged from 0.15 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Short-Term Inflation-Protected Securities... | 0.07 | 0.11 | 0.15 | 91 | Inflation-Protected Bonds | VHYAX vs VTAPX | |
| Fidelity Floating Rate High Income Fund | 0.19 | 0.29 | 0.32 | 93 | Bank Loan | VHYAX vs FFRHX | |
| Fidelity Select Energy Portfolio | 0.24 | 0.44 | 0.53 | 87 | Energy Equities | VHYAX vs FSENX | |
| ARK Venture Fund | 0.26 | 0.43 | — | 98 | Technology Equities | VHYAX vs ARKVX | |
| Vanguard Short-Term Investment-Grade Fund Admiral ... | 0.27 | 0.18 | 0.14 | 54 | Total Bond Market | VHYAX vs VFSUX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for VHYAX, 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 Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of 0.06, down from 0.35 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | 0.06 | 0.26 | 0.35 | 66 | Consumer Defensive | |
| Occidental Petroleum Corporation | 0.07 | 0.27 | 0.37 | 68 | Energy | |
| The Coca-Cola Company | 0.10 | 0.28 | 0.42 | 87 | Consumer Defensive | |
| Coca-Cola Consolidated, Inc. | 0.10 | 0.26 | 0.31 | 84 | Consumer Defensive | |
| BP p.l.c. | 0.10 | 0.25 | 0.39 | 83 | Energy |
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