Looking to diversify beyond FIBPX? The mutual funds below have historically moved differently from FIBPX, 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 FIBPX
3 mutual funds have low correlation with FIBPX (below 0.3), 1 of which are negatively correlated. The least correlated is Federated Hermes MDT Market Neutral A (QAMNX) (Long-Short) with a 1Y correlation of -0.02, roughly unchanged from -0.04 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes MDT Market Neutral A | -0.02 | -0.04 | — | 54 | Long-Short | FIBPX vs QAMNX | |
| Federated Hermes Strategic Value Dividend Fund | 0.24 | 0.36 | 0.34 | 94 | Large Cap Value Equities | FIBPX vs SVAIX | |
| DFA Two Year Global Fixed Income Portfolio | 0.27 | 0.10 | 0.30 | 100 | Global Bonds | FIBPX vs DFGFX | |
| Federated Hermes High-Yield Strategy Portfolio | 0.31 | 0.45 | 0.51 | 74 | High Yield Bonds | FIBPX vs FHYSX | |
| Federated Hermes MDT All Cap Core Fund | 0.34 | 0.28 | 0.32 | 53 | Large Cap Blend Equities | FIBPX vs QIACX |
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