Looking to diversify beyond FMCSX? The mutual funds below have historically moved differently from FMCSX, 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 FMCSX
0 mutual funds have low correlation with FMCSX (below 0.3), 0 of which are negatively correlated. The least correlated is PIMCO Income Fund Institutional Class (PIMIX) (Multisector Bonds) with a 1Y correlation of 0.42, roughly unchanged from 0.36 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PIMCO Income Fund Institutional Class | 0.42 | 0.31 | 0.36 | 52 | Multisector Bonds | FMCSX vs PIMIX | |
| Victory RS Investors Fund | 0.64 | 0.76 | 0.84 | 73 | Mid Cap Blend Equities | FMCSX vs RSINX | |
| Fidelity Emerging Markets K | 0.66 | 0.61 | 0.63 | 51 | Emerging Markets Equities | FMCSX vs FKEMX | |
| Fidelity Emerging Markets Fund | 0.66 | 0.61 | 0.63 | 52 | Emerging Markets Equities | FMCSX vs FEMKX | |
| Vanguard Equity Income Fund Investor Shares | 0.67 | 0.79 | 0.85 | 84 | Dividend, Large Cap Value Equities | FMCSX vs VEIPX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FMCSX, 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 Berkshire Hathaway Inc. (BRK-B) (Financial Services) with a 1Y correlation of 0.09, down from 0.53 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Berkshire Hathaway Inc. | 0.09 | 0.37 | 0.53 | 61 | Financial Services | |
| Fomento Económico Mexicano, S.A.B. de C.V. | 0.25 | 0.29 | 0.37 | 93 | Consumer Defensive |
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