Given a word $w=xyz$  are there any known good error correction codes that are coded as $xyz f(y,z) f(x,z) f(x,y)$ ? 

Such a family of LDPC codes would be best.

Is there a reason it won't be good(in terms of distance, rate)? 

It might be useful in a construction I have. I just wanted to make sure before I dive in.

Thanks