Looking to diversify beyond FMIHX? The mutual funds below have historically moved differently from FMIHX, 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 FMIHX
1 mutual funds have low correlation with FMIHX (below 0.3), 0 of which are negatively correlated. The least correlated is Goldman Sachs Strategic Volatility Premium Fund (SVPFX) (Large Cap Blend Equities) with a 1Y correlation of 0.29, up from 0.11 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Goldman Sachs Strategic Volatility Premium Fund | 0.29 | 0.14 | 0.11 | 97 | Large Cap Blend Equities | FMIHX vs SVPFX | |
| PRIMECAP Odyssey Growth Fund | 0.38 | 0.62 | 0.74 | 89 | Large Cap Blend Equities | FMIHX vs POGRX | |
| Archer Multi Cap Fund | 0.39 | 0.66 | 0.76 | 67 | Large Cap Blend Equities | FMIHX vs ALSMX | |
| North Square Preferred and Income Securities Fund | 0.41 | 0.35 | 0.40 | 59 | Preferred Stock | FMIHX vs ORDNX | |
| Manor Fund | 0.42 | 0.63 | 0.76 | 71 | Large Cap Blend Equities | FMIHX vs MNRMX |
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