Looking to diversify beyond FMDCX? The mutual funds below have the lowest correlation with FMDCX — 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 FMDCX.
Best Diversifiers for FMDCX
2 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 0.24, down from 0.42 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes High-Yield Strategy Portfolio | 0.24 | 0.35 | 0.42 | 65 | High Yield Bonds | FMDCX vs FHYSX | |
| Federated Hermes Institutional High Yield Bond Fun... | 0.28 | 0.40 | 0.44 | 56 | High Yield Bonds | FMDCX vs FIHBX | |
| Federated Hermes Strategic Value Dividend Fund | 0.45 | 0.58 | 0.65 | 82 | Large Cap Value Equities | FMDCX vs SVAIX | |
| Gotham Enhanced Return Fund | 0.57 | 0.66 | 0.76 | 66 | Mid Cap Blend Equities | FMDCX vs GENIX | |
| 13D Activist Fund | 0.58 | 0.71 | 0.81 | 66 | Mid Cap Blend Equities | FMDCX vs DDDIX |
See all 18 diversifiers for FMDCX
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