Looking to diversify beyond FNIDX? The mutual funds below have historically moved differently from FNIDX, 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 FNIDX
0 mutual funds have low correlation with FNIDX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes International Strategic Value Dividend Fund (IVFIX) (Foreign Large Cap Equities) with a 1Y correlation of 0.40, down from 0.65 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes International Strategic Value Div... | 0.40 | 0.53 | 0.65 | 88 | Foreign Large Cap Equities | FNIDX vs IVFIX | |
| Goldman Sachs GQG Partners International Opportuni... | 0.41 | 0.68 | 0.76 | 53 | Foreign Large Cap Equities | FNIDX vs GSINX | |
| Goldman Sachs GQG Partners International Opportuni... | 0.41 | 0.68 | 0.77 | 54 | Foreign Large Cap Equities | FNIDX vs GSIMX | |
| GQG Partners International Quality Dividend Income... | 0.45 | 0.65 | 0.71 | 68 | Quality Factor, Foreign Large Cap Equities | FNIDX vs GQJPX | |
| Pear Tree Polaris Foreign Value Fund | 0.48 | 0.61 | 0.69 | 91 | Foreign Large Cap Equities | FNIDX vs QFVOX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FNIDX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Amazon.com, Inc (AMZN) (Consumer Cyclical) with a 1Y correlation of 0.45, roughly unchanged from 0.50 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Amazon.com, Inc | 0.45 | 0.43 | 0.50 | 72 | Consumer Cyclical |
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