Looking to diversify beyond FKIDX? The mutual funds below have historically moved differently from FKIDX, 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 FKIDX
0 mutual funds have low correlation with FKIDX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes International Strategic Value Dividend Fund (IVFIX) (Foreign Large Cap Equities) with a 1Y correlation of 0.41, down from 0.63 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes International Strategic Value Div... | 0.41 | 0.51 | 0.63 | 88 | Foreign Large Cap Equities | FKIDX vs IVFIX | |
| Goldman Sachs GQG Partners International Opportuni... | 0.45 | 0.71 | 0.77 | 61 | Foreign Large Cap Equities | FKIDX vs GSINX | |
| Goldman Sachs GQG Partners International Opportuni... | 0.46 | 0.71 | 0.77 | 61 | Foreign Large Cap Equities | FKIDX vs GSIMX | |
| GQG Partners International Quality Dividend Income... | 0.49 | 0.65 | 0.69 | 71 | Quality Factor, Foreign Large Cap Equities | FKIDX vs GQJPX | |
| PIMCO RAE PLUS International Fund | 0.53 | 0.57 | 0.60 | 95 | Foreign Large Cap Equities | FKIDX vs PTSIX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FKIDX, 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 Apple Inc (AAPL) (Technology) with a 1Y correlation of 0.34, down from 0.49 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Apple Inc | 0.34 | 0.36 | 0.49 | 89 | Technology |
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