Looking to diversify beyond FDETX? The mutual funds below have the lowest correlation with FDETX — 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 FDETX.
Best Diversifiers for FDETX
2 mutual funds have low correlation with FDETX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes Equity Income Fund (LEIFX) (Large Cap Value Equities) with a 1Y correlation of 0.16, down from 0.74 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Equity Income Fund | 0.16 | 0.52 | 0.74 | 67 | Large Cap Value Equities | FDETX vs LEIFX | |
| Federated Hermes Strategic Value Dividend Fund | 0.19 | 0.35 | 0.55 | 80 | Large Cap Value Equities | FDETX vs SVAIX | |
| Hennessy Cornerstone Value Fund | 0.36 | 0.54 | 0.71 | 81 | Large Cap Value Equities | FDETX vs HFCVX | |
| American Century Equity Income Fund Class I | 0.51 | 0.57 | 0.72 | 52 | Large Cap Value Equities | FDETX vs ACIIX | |
| American Century Equity Income Fund | 0.51 | 0.57 | 0.72 | 51 | Large Cap Value Equities | FDETX vs TWEIX |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FDETX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FDETX and solid risk/return profiles. The least correlated is AST SpaceMobile, Inc. (ASTS) (Technology) with a 1Y correlation of 0.36, roughly unchanged from 0.35 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AST SpaceMobile, Inc. | 0.36 | 0.34 | 0.35 | 60 | Technology | |
| BitMine Immersion Technologies, Inc. | 0.49 | 0.48 | 0.48 | 81 | Financial Services |
Build a portfolio that complements FDETX
Add FDETX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with FDETX