Looking to diversify beyond FPDIX? The mutual funds below have historically moved differently from FPDIX, 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 FPDIX
4 mutual funds have low correlation with FPDIX (below 0.3), 1 of which are negatively correlated. The least correlated is SEI Institutional Managed Trust Multi-Asset Inflation Managed Fund (SIFAX) (Diversified Portfolio) with a 1Y correlation of -0.28, down from 0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Multi-Asset Inflat... | -0.28 | -0.05 | 0.09 | 77 | Diversified Portfolio | FPDIX vs SIFAX | |
| MH Elite Small Cap Fund of Funds Fund | 0.02 | 0.17 | 0.51 | 66 | Diversified Portfolio | FPDIX vs MHELX | |
| Concorde Wealth Management Fund | 0.29 | 0.52 | 0.68 | 86 | Diversified Portfolio | FPDIX vs CONWX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.30 | 0.50 | 0.60 | 87 | Diversified Portfolio | FPDIX vs FCSRX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.31 | 0.50 | 0.59 | 90 | Diversified Portfolio | FPDIX vs FSIRX |
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