Looking to diversify beyond FHIIX? The mutual funds below have historically moved differently from FHIIX, 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 FHIIX
17 mutual funds have low correlation with FHIIX (below 0.3), 3 of which are negatively correlated. The least correlated is Fairholme Focused Income Fund (FOCIX) (High Yield Bonds) with a 1Y correlation of -0.19, down from 0.26 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fairholme Focused Income Fund | -0.19 | 0.08 | 0.26 | 73 | High Yield Bonds | FHIIX vs FOCIX | |
| Federated Hermes MDT Market Neutral A | -0.04 | -0.02 | — | 54 | Long-Short | FHIIX vs QAMNX | |
| Pioneer ILS Interval Fund | -0.04 | -0.02 | -0.00 | 100 | High Yield Bonds | FHIIX vs XILSX | |
| RiverPark Short Term High Yield Fund | 0.03 | 0.15 | 0.24 | 100 | High Yield Bonds | FHIIX vs RPHIX | |
| Putnam Global Health Care Fund | 0.06 | 0.22 | 0.28 | 63 | Health & Biotech Equities | FHIIX vs PHSTX |
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