Looking to diversify beyond FDEIX? The mutual funds below have historically moved differently from FDEIX, 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 FDEIX
5 mutual funds have low correlation with FDEIX (below 0.3), 2 of which are negatively correlated. The least correlated is GQG Partners US Quality Dividend Income Fund (GQHPX) (Quality Factor) with a 1Y correlation of -0.15, down from 0.56 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| GQG Partners US Quality Dividend Income Fund | -0.15 | 0.34 | 0.56 | 58 | Quality Factor, Large Cap Value Equities | FDEIX vs GQHPX | |
| Voya Corporate Leaders Trust Fund | -0.02 | 0.32 | 0.55 | 94 | Large Cap Value Equities | FDEIX vs LEXCX | |
| Federated Hermes Strategic Value Dividend Fund | 0.12 | 0.31 | 0.53 | 95 | Large Cap Value Equities | FDEIX vs SVAIX | |
| Buffalo Flexible Income Fund | 0.22 | 0.53 | 0.71 | 88 | Large Cap Value Equities | FDEIX vs BUFBX | |
| Hennessy Cornerstone Value Fund | 0.29 | 0.50 | 0.69 | 96 | Large Cap Value Equities | FDEIX vs HFCVX |
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