Looking to diversify beyond FMDCX? The mutual funds below have historically moved differently from FMDCX, 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 FMDCX
1 mutual funds have low correlation with FMDCX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes High-Yield Strategy Portfolio (FHYSX) (High Yield Bonds) with a 1Y correlation of 0.28, down from 0.42 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes High-Yield Strategy Portfolio | 0.28 | 0.34 | 0.42 | 62 | High Yield Bonds | FMDCX vs FHYSX | |
| Federated Hermes Strategic Value Dividend Fund | 0.33 | 0.56 | 0.64 | 95 | Large Cap Value Equities | FMDCX vs SVAIX | |
| Federated Hermes Institutional High Yield Bond Fun... | 0.34 | 0.39 | 0.44 | 51 | High Yield Bonds | FMDCX vs FIHBX | |
| Federated Hermes MDT All Cap Core Fund | 0.46 | 0.60 | 0.76 | 52 | Large Cap Blend Equities | FMDCX vs QIACX | |
| Victory RS Investors Fund | 0.56 | 0.69 | 0.79 | 81 | Mid Cap Blend Equities | FMDCX vs RSINX |
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