Looking to diversify beyond FLSPX? The mutual funds below have the lowest correlation with FLSPX — 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 FLSPX.
Best Diversifiers for FLSPX
3 mutual funds have low correlation with FLSPX (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard Market Neutral Fund Institutional Shares (VMNIX) (Long-Short) with a 1Y correlation of 0.07, roughly unchanged from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Market Neutral Fund Institutional Shares | 0.07 | 0.03 | 0.04 | 88 | Long-Short | FLSPX vs VMNIX | |
| Vanguard Market Neutral Fund Investor Shares | 0.08 | 0.04 | 0.04 | 88 | Long-Short | FLSPX vs VMNFX | |
| Knights of Columbus Long/Short Equity Fund | 0.13 | 0.36 | 0.31 | 61 | Long-Short | FLSPX vs KCEIX | |
| BlackRock Global Long/Short Equity Fund Class I | 0.43 | 0.23 | 0.16 | 96 | Long-Short | FLSPX vs BDMIX | |
| Quantitative U.S. Long/Short Equity Portfolio | 0.46 | 0.53 | 0.53 | 73 | Long-Short | FLSPX vs GTAPX |
See all 22 diversifiers for FLSPX
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