Looking to diversify beyond FDETX? The mutual funds below have historically moved differently from FDETX, 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 FDETX
6 mutual funds have low correlation with FDETX (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 -0.16, 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 | -0.16 | 0.34 | 0.56 | 58 | Quality Factor, Large Cap Value Equities | FDETX vs GQHPX | |
| Voya Corporate Leaders Trust Fund | -0.01 | 0.32 | 0.55 | 94 | Large Cap Value Equities | FDETX vs LEXCX | |
| Federated Hermes Equity Income Fund | 0.12 | 0.48 | 0.72 | 68 | Dividend, Large Cap Value Equities | FDETX vs LEIFX | |
| Federated Hermes Strategic Value Dividend Fund | 0.12 | 0.31 | 0.53 | 95 | Large Cap Value Equities | FDETX vs SVAIX | |
| Buffalo Flexible Income Fund | 0.22 | 0.53 | 0.71 | 88 | Large Cap Value Equities | FDETX vs BUFBX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FDETX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is AST SpaceMobile, Inc. (ASTS) (Technology) with a 1Y correlation of 0.40, roughly unchanged from 0.38 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AST SpaceMobile, Inc. | 0.40 | 0.37 | 0.38 | 55 | Technology |
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