Looking to diversify beyond FIKYX? The mutual funds below have the lowest correlation with FIKYX — 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 FIKYX.
Best Diversifiers for FIKYX
2 mutual funds have low correlation with FIKYX (below 0.3), 0 of which are negatively correlated. The least correlated is MH Elite Small Cap Fund of Funds Fund (MHELX) (Diversified Portfolio) with a 1Y correlation of 0.07, down from 0.47 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MH Elite Small Cap Fund of Funds Fund | 0.07 | 0.17 | 0.47 | 64 | Diversified Portfolio | FIKYX vs MHELX | |
| BlackRock Global Long/Short Equity Fund Class I | 0.29 | 0.16 | 0.10 | 92 | Long-Short | FIKYX vs BDMIX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.39 | 0.61 | 0.65 | 96 | Diversified Portfolio | FIKYX vs FSIRX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.39 | 0.61 | 0.65 | 95 | Diversified Portfolio | FIKYX vs FCSRX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.39 | 0.61 | 0.65 | 96 | Diversified Portfolio | FIKYX vs FIQDX |
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