Looking to diversify beyond FIBPX? The mutual funds below have the lowest correlation with FIBPX — 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 FIBPX.
Best Diversifiers for FIBPX
1 mutual funds have low correlation with FIBPX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes Strategic Value Dividend Fund (SVAIX) (Large Cap Value Equities) with a 1Y correlation of 0.30, roughly unchanged from 0.35 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Strategic Value Dividend Fund | 0.30 | 0.37 | 0.35 | 78 | Large Cap Value Equities | FIBPX vs SVAIX | |
| Federated Hermes High-Yield Strategy Portfolio | 0.31 | 0.45 | 0.51 | 69 | High Yield Bonds | FIBPX vs FHYSX | |
| Federated Hermes Institutional High Yield Bond Fun... | 0.34 | 0.47 | 0.52 | 65 | High Yield Bonds | FIBPX vs FIHBX | |
| Federated Hermes Opportunistic High Yield Bond Fun... | 0.36 | 0.47 | 0.52 | 55 | High Yield Bonds | FIBPX vs FHYTX | |
| T. Rowe Price Global Multi-Sector Bond Fund | 0.48 | 0.63 | 0.63 | 91 | Global Bonds | FIBPX vs PRSNX |
See all 12 diversifiers for FIBPX
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