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
18 mutual funds have low correlation with FPFIX (below 0.3), 2 of which are negatively correlated. The least correlated is Artisan Global Unconstrained Fund (APFPX) (Nontraditional Bonds) with a 1Y correlation of -0.06, up from -0.30 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Artisan Global Unconstrained Fund | -0.06 | -0.30 | — | 99 | Nontraditional Bonds | FPFIX vs APFPX | |
| Fidelity Floating Rate High Income Fund | -0.01 | 0.01 | 0.08 | 93 | High Yield Bonds | FPFIX vs FFRHX | |
| Victory Pioneer Cat Bond Fund Class Y | 0.04 | — | — | 100 | Nontraditional Bonds | FPFIX vs CBYYX | |
| T. Rowe Price Dynamic Credit Fund | 0.05 | 0.00 | 0.01 | 83 | Nontraditional Bonds | FPFIX vs RPIDX | |
| PGIM Securitized Credit Fund | 0.06 | -0.01 | 0.02 | 99 | Nontraditional Bonds | FPFIX vs SCFZX |
See all 54 diversifiers for FPFIX
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Diversification Analysis
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