Looking to diversify beyond FLC? The mutual funds below have historically moved differently from FLC, 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 FLC
3 mutual funds have low correlation with FLC (below 0.3), 0 of which are negatively correlated. The least correlated is John Hancock Regional Bank Fund (FRBAX) (Financials Equities) with a 1Y correlation of 0.26, down from 0.37 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| John Hancock Regional Bank Fund | 0.26 | 0.36 | 0.37 | 57 | Financials Equities | FLC vs FRBAX | |
| Hennessy Small Cap Financial Fund | 0.27 | 0.36 | 0.36 | 55 | Financials Equities | FLC vs HSFNX | |
| RMB Mendon Financial Services Fund | 0.27 | 0.36 | 0.36 | 83 | Financials Equities | FLC vs RMBKX | |
| Gabelli Global Financial Services Fund | 0.39 | 0.44 | 0.43 | 88 | Financials Equities | FLC vs GFSIX | |
| Gabelli Global Financial Services Fund Class AAA | 0.41 | 0.45 | 0.44 | 86 | Financials Equities | FLC vs GAFSX |
Diversification Analysis
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