Looking to diversify beyond FKMCX? The mutual funds below have historically moved differently from FKMCX, 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 FKMCX
1 mutual funds have low correlation with FKMCX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Floating Rate High Income Fund (FFRHX) (Bank Loan) with a 1Y correlation of 0.16, down from 0.33 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Floating Rate High Income Fund | 0.16 | 0.26 | 0.33 | 95 | Bank Loan | FKMCX vs FFRHX | |
| DFA Global Real Estate Securities Portfolio | 0.40 | 0.58 | 0.66 | 50 | REIT | FKMCX vs DFGEX | |
| Victory RS Investors Fund | 0.65 | 0.76 | 0.84 | 73 | Mid Cap Blend Equities | FKMCX vs RSINX | |
| Fidelity OTC Portfolio Class K | 0.66 | 0.62 | 0.68 | 76 | Large Cap Growth Equities | FKMCX vs FOCKX | |
| Gabelli Value 25 Fund | 0.68 | 0.78 | 0.85 | 80 | Mid Cap Blend Equities | FKMCX vs GABVX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FKMCX, 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 Fortinet, Inc. (FTNT) (Technology) with a 1Y correlation of 0.23, down from 0.44 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Fortinet, Inc. | 0.23 | 0.35 | 0.44 | 81 | Technology | |
| Amazon.com, Inc | 0.33 | 0.40 | 0.48 | 60 | Consumer Cyclical | |
| Alphabet Inc. Class A | 0.37 | 0.36 | 0.45 | 95 | Communication Services | |
| NVIDIA Corporation | 0.38 | 0.37 | 0.48 | 56 | Technology | |
| Celestica Inc. | 0.49 | 0.48 | 0.53 | 73 | Technology |
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