Looking to diversify beyond FPFIX? The mutual funds below have the lowest correlation with FPFIX — 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 FPFIX.
Best Diversifiers for FPFIX
15 mutual funds have low correlation with FPFIX (below 0.3), 2 of which are negatively correlated. The least correlated is Fidelity Floating Rate High Income Fund (FFRHX) (Bank Loan) with a 1Y correlation of -0.12, down from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Floating Rate High Income Fund | -0.12 | 0.00 | 0.07 | 93 | Bank Loan | FPFIX vs FFRHX | |
| Artisan Global Unconstrained Fund | -0.07 | -0.28 | — | 99 | Nontraditional Bonds | FPFIX vs APFPX | |
| Victory Pioneer Cat Bond Fund Class Y | 0.02 | — | — | 100 | Nontraditional Bonds | FPFIX vs CBYYX | |
| Putnam Mortgage Opportunities Fund | 0.05 | 0.03 | 0.05 | 88 | Nontraditional Bonds | FPFIX vs PMOTX | |
| Eaton Vance Global Macro Absolute Return Fund | 0.06 | 0.13 | 0.04 | 99 | Nontraditional Bonds | FPFIX vs EIGMX |
See all 49 diversifiers for FPFIX
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Diversification Analysis
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