Looking to diversify beyond FMY? The mutual funds below have the lowest correlation with FMY — 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 FMY.
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 0.09, roughly unchanged from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vivaldi Merger Arbitrage Fund Class I | 0.09 | 0.00 | 0.04 | 98 | Event Driven | FMY vs VARBX | |
| First Trust Preferred Securities and Income Fund | 0.26 | 0.22 | 0.16 | 67 | Preferred Stock/Convertible Bonds | FMY vs FPEIX |
Diversification Analysis
Build a portfolio that complements FMY
Add FMY to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with FMY