Looking to diversify beyond FCANX? The mutual funds below have the lowest correlation with FCANX — 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 FCANX.
Best Diversifiers for FCANX
2 mutual funds have low correlation with FCANX (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 0.03, down from 0.42 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MH Elite Small Cap Fund of Funds Fund | 0.03 | 0.16 | 0.42 | 67 | Diversified Portfolio | FCANX vs MHELX | |
| BlackRock Global Long/Short Equity Fund Class I | 0.29 | 0.16 | 0.10 | 95 | Long-Short | FCANX vs BDMIX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.42 | 0.61 | 0.64 | 88 | Diversified Portfolio | FCANX vs FIQDX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.42 | 0.61 | 0.63 | 82 | Diversified Portfolio | FCANX vs FCSRX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.42 | 0.61 | 0.64 | 86 | Diversified Portfolio | FCANX vs FSIRX |
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