Looking to diversify beyond FLOTX? The mutual funds below have the lowest correlation with FLOTX — 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 FLOTX.
Best Diversifiers for FLOTX
12 mutual funds have low correlation with FLOTX (below 0.3), 1 of which are negatively correlated. The least correlated is Federated Hermes Project and Trade Finance Tender Fund (XPTFX) (Bank Loan) with a 1Y correlation of -0.05, roughly unchanged from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Project and Trade Finance Tender ... | -0.05 | 0.05 | 0.04 | 84 | Bank Loan | FLOTX vs XPTFX | |
| Federated Hermes Floating Rate Strat Inc Fund | 0.08 | 0.13 | 0.16 | 87 | Bank Loan | FLOTX vs FFRSX | |
| Calamos Aksia Alternative Credit and Income Fund C... | 0.11 | — | — | 98 | Bank Loan | FLOTX vs CAPIX | |
| Loomis Sayles Senior Floating Rate and Fixed Incom... | 0.14 | 0.22 | 0.20 | 64 | Bank Loan | FLOTX vs LSFYX | |
| RiverPark Floating Rate CMBS Fund | 0.17 | 0.15 | 0.13 | 100 | Bank Loan | FLOTX vs RCRIX |
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