Looking to diversify beyond FKIQX? The mutual funds below have historically moved differently from FKIQX, 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 FKIQX
4 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 0.10, down from 0.42 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MH Elite Small Cap Fund of Funds Fund | 0.10 | 0.13 | 0.42 | 68 | Diversified Portfolio | FKIQX vs MHELX | |
| SEI Institutional Managed Trust Multi-Asset Inflat... | 0.12 | 0.22 | 0.30 | 83 | Diversified Portfolio | FKIQX vs SIFAX | |
| AQR Diversifying Strategies Fund Class N | 0.24 | 0.18 | 0.10 | 92 | Tactical Allocation | FKIQX vs QDSNX | |
| Franklin California Tax Free Income Fund | 0.26 | 0.33 | 0.25 | 65 | Municipal Bonds | FKIQX vs FKTFX | |
| Fidelity Select Tech Hardware Portfolio | 0.30 | 0.36 | 0.51 | 94 | Technology Equities | FKIQX vs FDCPX |
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