Looking to diversify beyond FIIFX? The mutual funds below have historically moved differently from FIIFX, 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 FIIFX
2 mutual funds have low correlation with FIIFX (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 -0.01, roughly unchanged from -0.05 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 | -0.01 | -0.05 | — | 54 | Long-Short | FIIFX vs QAMNX | |
| Federated Hermes Strategic Value Dividend Fund | 0.14 | 0.25 | 0.20 | 94 | Large Cap Value Equities | FIIFX vs SVAIX | |
| Miller Intermediate Bond Fund | 0.35 | 0.25 | 0.24 | 95 | Corporate Bonds | FIIFX vs MIFIX | |
| Federated Hermes MDT All Cap Core Fund | 0.42 | 0.25 | 0.20 | 53 | Large Cap Blend Equities | FIIFX vs QIACX | |
| Vanguard Short-Term Corporate Bond Index Fund Inst... | 0.47 | 0.68 | 0.80 | 86 | Corporate Bonds | FIIFX vs VSTBX |
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