Looking to diversify beyond FISMX? The mutual funds below have historically moved differently from FISMX, 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 FISMX
3 mutual funds have low correlation with FISMX (below 0.3), 0 of which are negatively correlated. The least correlated is AQR Managed Futures Strategy Fund - Class I (AQMIX) (Systematic Trend) with a 1Y correlation of 0.08, up from -0.14 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| AQR Managed Futures Strategy Fund - Class I | 0.08 | 0.04 | -0.14 | 90 | Systematic Trend | FISMX vs AQMIX | |
| AQR Managed Futures Strategy Fund Class N | 0.10 | 0.04 | -0.13 | 89 | Systematic Trend | FISMX vs AQMNX | |
| BlackRock Global Equity Market Neutral Fund | 0.30 | 0.14 | 0.08 | 97 | Equity Market Neutral | FISMX vs BDMAX | |
| Vanguard Short-Term Bond Index Fund Admiral Shares | 0.35 | 0.27 | 0.23 | 57 | Short-Term Bond, Investment Grade Bonds | FISMX vs VBIRX | |
| JPMorgan Income Fund Class I | 0.38 | 0.35 | 0.40 | 87 | Multisector Bonds, Investment Grade Bonds, High Yield Bonds, Actively Managed | FISMX vs JMSIX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FISMX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Realty Income Corporation (O) (Real Estate) with a 1Y correlation of 0.11, down from 0.30 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Realty Income Corporation | 0.11 | 0.23 | 0.30 | 77 | Real Estate | |
| Eli Lilly and Company | 0.15 | 0.20 | 0.18 | 83 | Healthcare | |
| First Horizon Corporation | 0.19 | 0.30 | 0.33 | 68 | Financial Services |
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