Looking to diversify beyond FHSNX? The mutual funds below have the lowest correlation with FHSNX — 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 FHSNX.
Best Diversifiers for FHSNX
2 mutual funds have low correlation with FHSNX (below 0.3), 2 of which are negatively correlated. The least correlated is SEI Institutional Managed Trust Multi-Asset Inflation Managed Fund (SIFAX) (Diversified Portfolio) with a 1Y correlation of -0.11, down from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Multi-Asset Inflat... | -0.11 | 0.06 | 0.16 | 60 | Diversified Portfolio | FHSNX vs SIFAX | |
| MH Elite Small Cap Fund of Funds Fund | -0.02 | 0.12 | 0.37 | 67 | Diversified Portfolio | FHSNX vs MHELX | |
| Concorde Wealth Management Fund | 0.38 | 0.55 | 0.59 | 73 | Diversified Portfolio | FHSNX vs CONWX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.47 | 0.63 | 0.63 | 91 | Diversified Portfolio | FHSNX vs FIQDX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.47 | 0.63 | 0.63 | 86 | Diversified Portfolio | FHSNX vs FCSRX |
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