Looking to diversify beyond FIRVX? The mutual funds below have historically moved differently from FIRVX, 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 FIRVX
1 mutual funds have low correlation with FIRVX (below 0.3), 0 of which are negatively correlated. The least correlated is BlackRock Global Equity Market Neutral Fund Class I (BDMIX) (Equity Market Neutral) with a 1Y correlation of 0.28, up from 0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BlackRock Global Equity Market Neutral Fund Class ... | 0.28 | 0.15 | 0.09 | 98 | Equity Market Neutral | FIRVX vs BDMIX | |
| Virtus AlphaSimplex Managed Futures Strategy Fund ... | 0.43 | 0.23 | -0.02 | 67 | Systematic Trend | FIRVX vs ASFYX | |
| BlackRock Enhanced Equity Dividend Trust | 0.58 | 0.58 | 0.62 | 66 | Derivative Income | FIRVX vs BDJ | |
| Connecticut Higher Education Trust 529 College Sav... | 0.71 | — | — | 60 | Target Retirement Date | FIRVX vs FAELX | |
| T. Rowe Price Retirement Income 2020 Fund | 0.73 | 0.84 | 0.88 | 72 | Target Retirement Date | FIRVX vs TRLAX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FIRVX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| BlackRock Enhanced Large Cap Core Fund, Inc. | 0.48 | 0.55 | 0.64 | 89 |
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