Looking to diversify beyond FHKAX? The mutual funds below have historically moved differently from FHKAX, 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 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 0.60, roughly unchanged from 0.67 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Morgan Stanley China A Share Fund | 0.60 | 0.60 | 0.67 | 78 | China Equities, Asia Pacific Equities | FHKAX vs CAF | |
| Fidelity International Index Fund | 0.65 | 0.62 | 0.64 | 70 | Foreign Large Cap Equities | FHKAX vs FSPSX | |
| T. Rowe Price China Evolution Equity Fund | 0.70 | 0.73 | 0.79 | 69 | China Equities, Asia Pacific Equities | FHKAX vs TRCLX | |
| Fidelity 500 Index Fund | 0.71 | 0.59 | 0.56 | 64 | S&P 500 | FHKAX vs FXAIX | |
| Fidelity ZERO Large Cap Index Fund | 0.71 | 0.59 | 0.57 | 59 | Large Cap Blend Equities | FHKAX vs FNILX |
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