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
3 mutual funds have low correlation with FDETX (below 0.3), 0 of which are negatively correlated. The least correlated is Voya Corporate Leaders Trust Fund (LEXCX) (Large Cap Value Equities) with a 1Y correlation of 0.07, down from 0.59 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Voya Corporate Leaders Trust Fund | 0.07 | 0.38 | 0.59 | 53 | Large Cap Value Equities | FDETX vs LEXCX | |
| Federated Hermes Equity Income Fund | 0.15 | 0.54 | 0.75 | 53 | Large Cap Value Equities | FDETX vs LEIFX | |
| Federated Hermes Strategic Value Dividend Fund | 0.20 | 0.36 | 0.56 | 70 | Large Cap Value Equities | FDETX vs SVAIX | |
| Buffalo Flexible Income Fund | 0.35 | 0.59 | 0.74 | 71 | Large Cap Value Equities | FDETX vs BUFBX | |
| Hennessy Cornerstone Value Fund | 0.36 | 0.55 | 0.72 | 89 | Large Cap Value Equities | FDETX vs HFCVX |
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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) (Communication Services) with a 1Y correlation of 0.38, roughly unchanged from 0.35 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AST SpaceMobile, Inc. | 0.38 | 0.34 | 0.35 | 91 | Communication Services |
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