Looking to diversify beyond FIHBX? The mutual funds below have historically moved differently from FIHBX, 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 FIHBX
21 mutual funds have low correlation with FIHBX (below 0.3), 3 of which are negatively correlated. The least correlated is Fairholme Focused Income Fund (FOCIX) (High Yield Bonds) with a 1Y correlation of -0.21, down from 0.24 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fairholme Focused Income Fund | -0.21 | 0.07 | 0.24 | 73 | High Yield Bonds | FIHBX vs FOCIX | |
| PIMCO Commodity Real Return Strategy Fund | -0.12 | 0.05 | 0.16 | 69 | Commodities | FIHBX vs PCRIX | |
| Federated Hermes Project and Trade Finance Tender ... | -0.01 | 0.05 | 0.02 | 93 | Bank Loan | FIHBX vs XPTFX | |
| Federated Hermes MDT Market Neutral A | 0.01 | 0.02 | — | 54 | Long-Short | FIHBX vs QAMNX | |
| Federated Hermes MDT Market Neutral Fund Instituti... | 0.02 | 0.02 | — | 54 | Equity Market Neutral | FIHBX vs QQMNX |
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