Looking to diversify beyond FARYX? The mutual funds below have historically moved differently from FARYX, 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 FARYX
2 mutual funds have low correlation with FARYX (below 0.3), 0 of which are negatively correlated. The least correlated is BlackRock Tactical Opportunities Fund (PCBAX) (Multistrategy) with a 1Y correlation of 0.01, down from 0.14 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BlackRock Tactical Opportunities Fund | 0.01 | 0.16 | 0.14 | 83 | Multistrategy | FARYX vs PCBAX | |
| Catalyst/Millburn Hedge Strategy Fund | 0.27 | 0.11 | 0.19 | 89 | Multistrategy, Systematic Trend, Global Equities | FARYX vs MBXAX | |
| Eaton Vance Global Macro Absolute Return Advantage... | 0.44 | 0.33 | 0.25 | 98 | Multistrategy | FARYX vs EGRAX | |
| Fidelity 500 Index Fund | 0.44 | 0.42 | 0.45 | 64 | S&P 500 | FARYX vs FXAIX | |
| Rational/ReSolve Adaptive Asset Allocation Fund | 0.46 | 0.27 | 0.28 | 77 | Tactical Allocation | FARYX vs RDMIX |
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