Looking to diversify beyond FNPIX? The mutual funds below have the lowest correlation with FNPIX — 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 FNPIX.
Best Diversifiers for FNPIX
3 mutual funds have low correlation with FNPIX (below 0.3), 0 of which are negatively correlated. The least correlated is ProFunds UltraSector Oil & Gas Fund (ENPIX) (Leveraged Equities) with a 1Y correlation of 0.03, down from 0.42 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProFunds UltraSector Oil & Gas Fund | 0.03 | 0.31 | 0.42 | 51 | Leveraged Equities | FNPIX vs ENPIX | |
| ProFunds Semiconductor UltraSector Fund | 0.17 | 0.26 | 0.44 | 92 | Leveraged Equities | FNPIX vs SMPIX | |
| ProFunds UltraLatin America Fund | 0.25 | 0.36 | 0.44 | 70 | Leveraged Equities | FNPIX vs UBPIX | |
| ProFunds UltraJapan Fund | 0.32 | 0.40 | 0.53 | 93 | Leveraged Equities | FNPIX vs UJPIX | |
| Rydex Japan 2x Strategy Fund | 0.33 | 0.41 | 0.51 | 64 | Leveraged Equities | FNPIX vs RYJSX |
See all 19 diversifiers for FNPIX
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