Looking to diversify beyond FIDPX? The mutual funds below have the lowest correlation with FIDPX — 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 FIDPX.
Best Diversifiers for FIDPX
5 mutual funds have low correlation with FIDPX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes MDT All Cap Core Fund (QIACX) (Large Cap Blend Equities) with a 1Y correlation of 0.13, down from 0.46 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes MDT All Cap Core Fund | 0.13 | 0.30 | 0.46 | 56 | Large Cap Blend Equities | FIDPX vs QIACX | |
| Federated Hermes High-Yield Strategy Portfolio | 0.19 | 0.28 | 0.37 | 71 | High Yield Bonds | FIDPX vs FHYSX | |
| Fidelity OTC Portfolio | 0.22 | 0.23 | 0.37 | 93 | Large Cap Growth Equities | FIDPX vs FOCPX | |
| Federated Hermes Institutional High Yield Bond Fun... | 0.22 | 0.32 | 0.40 | 64 | High Yield Bonds | FIDPX vs FIHBX | |
| Federated Hermes Opportunistic High Yield Bond Fun... | 0.26 | 0.35 | 0.45 | 59 | High Yield Bonds | FIDPX vs FHYTX |
See all 24 diversifiers for FIDPX
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