Looking to diversify beyond FNPIX? The mutual funds below have historically moved differently from FNPIX, 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 FNPIX
6 mutual funds have low correlation with FNPIX (below 0.3), 1 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 0.38 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProFunds UltraSector Oil & Gas Fund | -0.03 | 0.25 | 0.38 | 63 | Leveraged Equities | FNPIX vs ENPIX | |
| Oil Equipment & Services UltraSector ProFund | 0.14 | 0.30 | 0.41 | 77 | Energy Equities | FNPIX vs OEPIX | |
| ProFunds UltraJapan Fund | 0.22 | 0.36 | 0.50 | 88 | Leveraged Equities | FNPIX vs UJPIX | |
| Rydex Japan 2x Strategy Fund | 0.23 | 0.37 | 0.48 | 62 | Leveraged Equities | FNPIX vs RYJSX | |
| ProFunds UltraLatin America Fund | 0.25 | 0.35 | 0.43 | 85 | Leveraged Equities | FNPIX vs UBPIX |
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