Looking to diversify beyond FHMIX? The mutual funds below have the lowest correlation with FHMIX — 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 FHMIX.
Best Diversifiers for FHMIX
388 mutual funds have low correlation with FHMIX (below 0.3), 9 of which are negatively correlated. The least correlated is DFA California Short Term Municipal Bond Portfolio (DFCMX) (Municipal Bonds) with a 1Y correlation of -0.04, roughly unchanged from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA California Short Term Municipal Bond Portfolio | -0.04 | 0.06 | 0.06 | 99 | Municipal Bonds | FHMIX vs DFCMX | |
| DFA California Municipal Real Return Portfolio | -0.03 | 0.07 | 0.05 | 94 | Municipal Bonds | FHMIX vs DCARX | |
| Vanguard Tax-Managed Balanced Fund Admiral Shares | -0.02 | 0.04 | 0.04 | 76 | Diversified Portfolio, Municipal Bonds | FHMIX vs VTMFX | |
| Baird Strategic Municipal Bond Fund | -0.02 | 0.10 | 0.08 | 86 | Municipal Bonds | FHMIX vs BSNSX | |
| DFA Municipal Real Return Portfolio | -0.02 | 0.05 | 0.04 | 94 | Municipal Bonds | FHMIX vs DMREX |
See all 452 diversifiers for FHMIX
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Diversification Analysis
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