Looking to diversify beyond FPEIX? The mutual funds below have historically moved differently from FPEIX, 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 FPEIX
1 mutual funds have low correlation with FPEIX (below 0.3), 0 of which are negatively correlated. The least correlated is Vivaldi Merger Arbitrage Fund Class I (VARBX) (Event Driven) with a 1Y correlation of 0.14, roughly unchanged from 0.17 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vivaldi Merger Arbitrage Fund Class I | 0.14 | 0.17 | 0.17 | 99 | Event Driven | FPEIX vs VARBX | |
| Calamos Convertible Fund | 0.40 | 0.39 | 0.43 | 72 | Convertible Bonds | FPEIX vs CICVX | |
| Calamos Convertible Fund | 0.40 | 0.39 | 0.43 | 70 | Convertible Bonds | FPEIX vs CCVIX | |
| Fidelity Advisor Convertible Securities Fund Class... | 0.41 | 0.39 | 0.42 | 53 | Convertible Bonds | FPEIX vs FICVX | |
| Fidelity Advisor Convertible Securities Fund Class... | 0.41 | 0.39 | 0.42 | 54 | Convertible Bonds | FPEIX vs FIQVX |
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