Looking to diversify beyond FKSTX? The mutual funds below have historically moved differently from FKSTX, 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 FKSTX
11 mutual funds have low correlation with FKSTX (below 0.3), 0 of which are negatively correlated. The least correlated is Nuveen Mid Cap Value Fund (FASEX) (Mid Cap Value Equities) with a 1Y correlation of 0.24, up from 0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Nuveen Mid Cap Value Fund | 0.24 | 0.13 | 0.09 | 84 | Mid Cap Value Equities | FKSTX vs FASEX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.24 | 0.23 | 0.20 | 99 | Municipal Bonds | FKSTX vs TFCYX | |
| abrdn Ultra Short Municipal Income Fund | 0.25 | 0.25 | 0.26 | 100 | Municipal Bonds | FKSTX vs ATOIX | |
| Nuveen Nasdaq 100 Dynamic Overwrite Fund | 0.25 | 0.16 | 0.15 | 58 | Derivative Income, Options Trading, Nasdaq-100, Large Cap Growth Equities, Actively Managed | FKSTX vs QQQX | |
| JPMorgan Ultra-Short Municipal Fund | 0.26 | 0.34 | 0.39 | 98 | Municipal Bonds | FKSTX vs USMSX |
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