Looking to diversify beyond FMRDX? The mutual funds below have the lowest correlation with FMRDX — 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 FMRDX.
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 Long/Short Equity Fund Class I (BDMIX) (Long-Short) with a 1Y correlation of 0.27, up from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BlackRock Global Long/Short Equity Fund Class I | 0.27 | 0.16 | 0.10 | 92 | Long-Short | FMRDX vs BDMIX | |
| AlphaSimplex Managed Futures Strategy Fund Class Y | 0.48 | 0.25 | 0.04 | 67 | Systematic Trend | FMRDX vs ASFYX | |
| Shelton Capital Management Nasdaq-100 Index Fund D... | 0.80 | 0.75 | 0.78 | 75 | Large Cap Growth Equities | FMRDX vs NASDX | |
| Dimensional Retirement Income Fund | 0.82 | 0.89 | 0.87 | 83 | Target Retirement Date | FMRDX vs TDIFX | |
| Dimensional 2060 Target Date Retirement Income Fun... | 0.85 | 0.87 | 0.89 | 83 | Target Retirement Date | FMRDX vs DRILX |
See all 40 diversifiers for FMRDX
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