Looking to diversify beyond FASMX? The mutual funds below have the lowest correlation with FASMX — 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 FASMX.
Best Diversifiers for FASMX
1 mutual funds have low correlation with FASMX (below 0.3), 0 of which are negatively correlated. The least correlated is MH Elite Small Cap Fund of Funds Fund (MHELX) (Diversified Portfolio) with a 1Y correlation of 0.05, down from 0.48 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MH Elite Small Cap Fund of Funds Fund | 0.05 | 0.17 | 0.48 | 67 | Diversified Portfolio | FASMX vs MHELX | |
| BlackRock Global Long/Short Equity Fund Class I | 0.33 | 0.18 | 0.11 | 95 | Long-Short | FASMX vs BDMIX | |
| Concorde Wealth Management Fund | 0.39 | 0.59 | 0.69 | 55 | Diversified Portfolio | FASMX vs CONWX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.39 | 0.60 | 0.65 | 86 | Diversified Portfolio | FASMX vs FSIRX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.40 | 0.60 | 0.65 | 88 | Diversified Portfolio | FASMX vs FIQDX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FASMX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FASMX and solid risk/return profiles. The least correlated is Black Stone Minerals, L.P. (BSM) (Energy) with a 1Y correlation of -0.08, down from 0.23 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Black Stone Minerals, L.P. | -0.08 | 0.14 | 0.23 | 61 | Energy | |
| Energy Transfer LP | -0.02 | 0.25 | 0.35 | 67 | Energy |
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