Looking to diversify beyond FNKLX? The mutual funds below have historically moved differently from FNKLX, 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 FNKLX
1 mutual funds have low correlation with FNKLX (below 0.3), 0 of which are negatively correlated. The least correlated is GQG Partners US Quality Dividend Income Fund (GQHPX) (Quality Factor) with a 1Y correlation of 0.29, down from 0.70 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| GQG Partners US Quality Dividend Income Fund | 0.29 | 0.57 | 0.70 | 62 | Quality Factor, Large Cap Value Equities | FNKLX vs GQHPX | |
| Fidelity Select Semiconductors Portfolio | 0.31 | 0.30 | 0.43 | 80 | Semiconductors, Technology Equities | FNKLX vs FSELX | |
| Voya Corporate Leaders Trust Fund | 0.35 | 0.62 | 0.72 | 93 | Large Cap Value Equities | FNKLX vs LEXCX | |
| AMG Yacktman Focused Fund | 0.38 | 0.62 | 0.74 | 89 | Large Cap Value Equities | FNKLX vs YAFFX | |
| Federated Hermes Strategic Value Dividend Fund | 0.50 | 0.65 | 0.76 | 94 | Large Cap Value Equities | FNKLX vs SVAIX |
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