Looking to diversify beyond FKASX? The mutual funds below have historically moved differently from FKASX, 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 FKASX
2 mutual funds have low correlation with FKASX (below 0.3), 2 of which are negatively correlated. The least correlated is Federated Hermes MDT Market Neutral A (QAMNX) (Long-Short) with a 1Y correlation of -0.15, down from -0.02 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 | -0.15 | -0.02 | — | 54 | Long-Short | FKASX vs QAMNX | |
| Federated Hermes Strategic Value Dividend Fund | -0.03 | 0.24 | 0.37 | 94 | Large Cap Value Equities | FKASX vs SVAIX | |
| WesMark Small Company Fund | 0.32 | 0.54 | 0.69 | 63 | Small Cap Growth Equities | FKASX vs WMKSX | |
| Dana Epiphany ESG Small Cap Equity Fund | 0.32 | 0.56 | 0.72 | 90 | Small Cap Growth Equities | FKASX vs DSCIX | |
| ProFunds Small Cap Growth Fund | 0.34 | 0.55 | 0.70 | 68 | Small Cap Growth Equities | FKASX vs SGPIX |
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