Looking to diversify beyond FHKAX? The mutual funds below have the lowest correlation with FHKAX — 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 FHKAX.
Best Diversifiers for FHKAX
0 mutual funds have low correlation with FHKAX (below 0.3), 0 of which are negatively correlated. The least correlated is Morgan Stanley China A Share Fund (CAF) (China Equities) with a 1Y correlation of 0.58, roughly unchanged from 0.67 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Morgan Stanley China A Share Fund | 0.58 | 0.60 | 0.67 | 89 | China Equities, Asia Pacific Equities | FHKAX vs CAF | |
| Matthews China Small Companies Fund | 0.63 | 0.71 | 0.77 | 87 | China Equities, Asia Pacific Equities | FHKAX vs MCSMX | |
| BlackRock China A Opportunities Fund | 0.66 | 0.63 | 0.68 | 64 | China Equities, Asia Pacific Equities | FHKAX vs CHILX | |
| Vanguard Pacific Stock Index Fund Admiral Shares | 0.68 | 0.64 | 0.65 | 78 | Asia Pacific Equities | FHKAX vs VPADX | |
| Fidelity ZERO Large Cap Index Fund | 0.68 | 0.59 | 0.56 | 61 | Large Cap Blend Equities | FHKAX vs FNILX |
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