Looking to diversify beyond FMRDX? The mutual funds below have historically moved differently from FMRDX, 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 FMRDX
1 mutual funds have low correlation with FMRDX (below 0.3), 0 of which are negatively correlated. The least correlated is BlackRock Global Equity Market Neutral Fund Class I (BDMIX) (Equity Market Neutral) with a 1Y correlation of 0.27, up from 0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BlackRock Global Equity Market Neutral Fund Class ... | 0.27 | 0.15 | 0.10 | 97 | Equity Market Neutral | FMRDX vs BDMIX | |
| Virtus AlphaSimplex Managed Futures Strategy Fund ... | 0.44 | 0.26 | 0.02 | 66 | Systematic Trend | FMRDX vs ASFYX | |
| BlackRock Enhanced Equity Dividend Trust | 0.58 | 0.60 | 0.65 | 64 | Derivative Income | FMRDX vs BDJ | |
| Dimensional Retirement Income Fund | 0.77 | 0.87 | 0.86 | 81 | Target Retirement Date | FMRDX vs TDIFX | |
| Voya Target In-Retirement Fund | 0.79 | 0.90 | 0.91 | 70 | Target Retirement Date | FMRDX vs ISOLX |
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