Looking to diversify beyond FEBAX? The mutual funds below have historically moved differently from FEBAX, 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 FEBAX
2 mutual funds have low correlation with FEBAX (below 0.3), 0 of which are negatively correlated. The least correlated is T. Rowe Price Floating Rate Fund - Investor Class (PRFRX) (High Yield Bonds) with a 1Y correlation of 0.23, roughly unchanged from 0.30 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| T. Rowe Price Floating Rate Fund - Investor Class | 0.23 | 0.24 | 0.30 | 90 | High Yield Bonds | FEBAX vs PRFRX | |
| LoCorr Macro Strategies Fund Class I | 0.29 | 0.09 | -0.06 | 79 | Global Allocation | FEBAX vs LFMIX | |
| MH Elite Select Portfolio of Funds Fund | 0.34 | 0.33 | 0.56 | 68 | Global Allocation | FEBAX vs MHESX | |
| AQR Diversifying Strategies Fund Class N | 0.35 | 0.29 | 0.19 | 92 | Tactical Allocation | FEBAX vs QDSNX | |
| First Eagle High Income Fund | 0.36 | 0.31 | 0.42 | 70 | High Yield Bonds | FEBAX vs FEHIX |
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