Looking to diversify beyond FMIEX? The mutual funds below have historically moved differently from FMIEX, 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 FMIEX
0 mutual funds have low correlation with FMIEX (below 0.3), 0 of which are negatively correlated. The least correlated is American Funds The New Economy Fund Class R-3 (RNGCX) (Global Equities) with a 1Y correlation of 0.31, down from 0.50 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| American Funds The New Economy Fund Class R-3 | 0.31 | 0.36 | 0.50 | 65 | Global Equities | FMIEX vs RNGCX | |
| American Funds The New Economy Fund® Class F-2 | 0.31 | 0.36 | 0.50 | 69 | Global Equities | FMIEX vs NEFFX | |
| American Funds The New Economy Fund Class A | 0.31 | 0.36 | 0.50 | 69 | Global Equities, Actively Managed | FMIEX vs ANEFX | |
| Catalyst/Millburn Hedge Strategy Fund Class I | 0.32 | 0.20 | 0.29 | 92 | Multistrategy, Systematic Trend, Global Equities | FMIEX vs MBXIX | |
| Catalyst/Millburn Hedge Strategy Fund | 0.33 | 0.20 | 0.29 | 92 | Multistrategy, Systematic Trend, Global Equities | FMIEX vs MBXAX |
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