Looking to diversify beyond FKIQX? The mutual funds below have the lowest correlation with FKIQX — 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 FKIQX.
Best Diversifiers for FKIQX
2 mutual funds have low correlation with FKIQX (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 0.43 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 | 0.15 | 0.43 | 67 | Diversified Portfolio | FKIQX vs MHELX | |
| Franklin California Tax Free Income Fund | 0.22 | 0.33 | 0.24 | 68 | Municipal Bonds | FKIQX vs FKTFX | |
| Fidelity Blue Chip Growth K6 Fund | 0.31 | 0.36 | 0.51 | 70 | Large Cap Growth Equities | FKIQX vs FBCGX | |
| SEI Asset Allocation Trust Defensive Strategy Allo... | 0.39 | 0.38 | 0.46 | 99 | Diversified Portfolio | FKIQX vs STDAX | |
| Fidelity Select Tech Hardware Portfolio | 0.40 | 0.40 | 0.54 | 98 | Technology Equities | FKIQX vs FDCPX |
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