Looking to diversify beyond FMY? The mutual funds below have historically moved differently from FMY, 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 FMY
2 mutual funds have low correlation with FMY (below 0.3), 0 of which are negatively correlated. The least correlated is Vivaldi Merger Arbitrage Fund Class I (VARBX) (Event Driven) with a 1Y correlation of 0.03, roughly unchanged from 0.04 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vivaldi Merger Arbitrage Fund Class I | 0.03 | 0.01 | 0.04 | 99 | Event Driven | FMY vs VARBX | |
| First Trust Preferred Securities and Income Fund | 0.21 | 0.22 | 0.16 | 59 | Preferred Stock | FMY vs FPEIX |
Diversification Analysis
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