Looking to diversify beyond FAIRX? The mutual funds below have the lowest correlation with FAIRX — 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 FAIRX.
Best Diversifiers for FAIRX
7 mutual funds have low correlation with FAIRX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes Equity Income Fund (LEIFX) (Large Cap Value Equities) with a 1Y correlation of 0.05, down from 0.54 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Equity Income Fund | 0.05 | 0.40 | 0.54 | 65 | Large Cap Value Equities | FAIRX vs LEIFX | |
| Hennessy Cornerstone Value Fund | 0.27 | 0.48 | 0.53 | 81 | Large Cap Value Equities | FAIRX vs HFCVX | |
| Federated Hermes Strategic Value Dividend Fund | 0.29 | 0.42 | 0.49 | 78 | Large Cap Value Equities | FAIRX vs SVAIX | |
| Rational Equity Armor Fund | 0.29 | 0.38 | 0.47 | 55 | Large Cap Value Equities | FAIRX vs HDCTX | |
| UBS US Dividend Ruler Fund | 0.29 | 0.46 | 0.55 | 56 | Large Cap Value Equities | FAIRX vs DVRUX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FAIRX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FAIRX and solid risk/return profiles. The least correlated is Datadog, Inc. (DDOG) (Technology) with a 1Y correlation of 0.00, down from 0.30 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Datadog, Inc. | 0.00 | 0.19 | 0.30 | 74 | Technology | |
| Xometry, Inc. | 0.12 | 0.31 | 0.31 | 88 | Industrials | |
| JPMorgan Chase & Co. | 0.21 | 0.35 | 0.42 | 69 | Financial Services | |
| Etsy, Inc. | 0.24 | 0.31 | 0.34 | 58 | Consumer Cyclical | |
| The St. Joe Company | 0.98 | 0.99 | 0.99 | 78 | Real Estate |
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