Looking to diversify beyond FMUSX? The mutual funds below have historically moved differently from FMUSX, 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 FMUSX
26 mutual funds have low correlation with FMUSX (below 0.3), 1 of which are negatively correlated. The least correlated is Federated Hermes MDT Market Neutral A (QAMNX) (Long-Short) with a 1Y correlation of -0.01, roughly unchanged from 0.02 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes MDT Market Neutral A | -0.01 | 0.02 | — | 54 | Long-Short | FMUSX vs QAMNX | |
| Putnam Global Health Care Fund | 0.00 | 0.15 | 0.11 | 63 | Health & Biotech Equities | FMUSX vs PHSTX | |
| Federated Hermes Strategic Value Dividend Fund | 0.07 | 0.16 | 0.09 | 94 | Large Cap Value Equities | FMUSX vs SVAIX | |
| Calamos Market Neutral Income Fund Institutional C... | 0.07 | 0.04 | 0.05 | 98 | FMUSX vs CMNIX | ||
| PGIM Quant Solutions Mid-Cap Value Fund | 0.07 | 0.11 | 0.06 | 94 | Mid Cap Value Equities | FMUSX vs NCBVX |
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