Looking to diversify beyond FPF? The mutual funds below have historically moved differently from FPF, 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 FPF
1 mutual funds have low correlation with FPF (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 0.18, roughly unchanged from 0.21 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 | 0.18 | 0.17 | 0.21 | 99 | Event Driven | FPF vs VARBX | |
| Calamos Convertible Fund | 0.40 | 0.41 | 0.48 | 67 | Convertible Bonds | FPF vs CICVX | |
| Calamos Convertible Fund | 0.42 | 0.41 | 0.49 | 66 | Convertible Bonds | FPF vs CCVIX | |
| Voya Global Equity Dividend and Premium Opportunit... | 0.43 | 0.38 | 0.45 | 90 | Global Equity Income | FPF vs IGD | |
| First Trust Enhanced Equity Income Fund | 0.45 | 0.43 | 0.46 | 56 | Derivative Income | FPF vs FFA |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FPF, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Realty Income Corporation (O) (Real Estate) with a 1Y correlation of 0.01, down from 0.29 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Realty Income Corporation | 0.01 | 0.23 | 0.29 | 74 | Real Estate | |
| Cohen & Steers Infrastructure Fund, Inc | 0.21 | 0.31 | 0.38 | 72 | Financial Services | |
| Cohen & Steers Quality Income Realty Fund, Inc. | 0.31 | 0.45 | 0.49 | 66 | Financial Services | |
| Nuveen AMT-Free Quality Municipal Income Fund | 0.35 | 0.43 | 0.40 | 76 | Financial Services | |
| BlackRock Science and Technology Trust | 0.48 | 0.39 | 0.46 | 84 | Financial Services |
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