Looking to diversify beyond FCSPX? The mutual funds below have historically moved differently from FCSPX, 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 FCSPX
2 mutual funds have low correlation with FCSPX (below 0.3), 1 of which are negatively correlated. The least correlated is Federated Hermes MDT Market Neutral A (QAMNX) (Long-Short) with a 1Y correlation of -0.03, roughly unchanged from -0.06 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes MDT Market Neutral A | -0.03 | -0.06 | — | 54 | Long-Short | FCSPX vs QAMNX | |
| Federated Hermes Strategic Value Dividend Fund | 0.11 | 0.26 | 0.20 | 94 | Large Cap Value Equities | FCSPX vs SVAIX | |
| Fidelity ZERO Large Cap Index Fund | 0.31 | 0.22 | 0.18 | 59 | Large Cap Blend Equities | FCSPX vs FNILX | |
| Miller Intermediate Bond Fund | 0.34 | 0.27 | 0.25 | 95 | Corporate Bonds | FCSPX vs MIFIX | |
| Federated Hermes MDT All Cap Core Fund | 0.38 | 0.27 | 0.20 | 53 | Large Cap Blend Equities | FCSPX vs QIACX |
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