Looking to diversify beyond FHESX? The mutual funds below have historically moved differently from FHESX, 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 FHESX
4 mutual funds have low correlation with FHESX (below 0.3), 1 of which are negatively correlated. The least correlated is Federated Hermes MDT Market Neutral A (QAMNX) (Long-Short) with a 1Y correlation of -0.07, roughly unchanged from -0.05 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes MDT Market Neutral A | -0.07 | -0.05 | — | 54 | Long-Short | FHESX vs QAMNX | |
| GQG Partners Global Quality Dividend Income Fund | 0.14 | 0.47 | 0.59 | 70 | Quality Factor, Global Equities | FHESX vs GQFPX | |
| Federated Hermes Strategic Value Dividend Fund | 0.27 | 0.50 | 0.60 | 94 | Large Cap Value Equities | FHESX vs SVAIX | |
| Cohen & Steers Global Infrastructure Fund Class A | 0.29 | 0.47 | 0.60 | 79 | Infrastructure Equities, Global Equities | FHESX vs CSUAX | |
| Catalyst/Millburn Hedge Strategy Fund Class I | 0.30 | 0.27 | 0.33 | 90 | Multistrategy, Systematic Trend, Global Equities | FHESX vs MBXIX |
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