Looking to diversify beyond FFNAX? The mutual funds below have historically moved differently from FFNAX, 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 FFNAX
3 mutual funds have low correlation with FFNAX (below 0.3), 1 of which are negatively correlated. The least correlated is SEI Institutional Managed Trust Multi-Asset Inflation Managed Fund (SIFAX) (Diversified Portfolio) with a 1Y correlation of -0.23, down from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Multi-Asset Inflat... | -0.23 | -0.01 | 0.12 | 83 | Diversified Portfolio | FFNAX vs SIFAX | |
| MH Elite Small Cap Fund of Funds Fund | 0.01 | 0.12 | 0.44 | 68 | Diversified Portfolio | FFNAX vs MHELX | |
| Fidelity Floating Rate High Income Fund | 0.21 | 0.28 | 0.33 | 93 | Bank Loan | FFNAX vs FFRHX | |
| Concorde Wealth Management Fund | 0.34 | 0.55 | 0.65 | 84 | Diversified Portfolio | FFNAX vs CONWX | |
| BlackRock Global Equity Market Neutral Fund Invest... | 0.36 | 0.19 | 0.12 | 97 | Equity Market Neutral | FFNAX vs BDMAX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FFNAX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| BlackRock Enhanced Large Cap Core Fund, Inc. | 0.61 | 0.64 | 0.72 | 89 |
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