Looking to diversify beyond FQIFX? The mutual funds below have historically moved differently from FQIFX, 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 FQIFX
2 mutual funds have low correlation with FQIFX (below 0.3), 1 of which are negatively correlated. The least correlated is Fairholme Focused Income Fund (FOCIX) (High Yield Bonds) with a 1Y correlation of -0.02, down from 0.46 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fairholme Focused Income Fund | -0.02 | 0.29 | 0.46 | 73 | High Yield Bonds | FQIFX vs FOCIX | |
| Fidelity Floating Rate High Income Fund | 0.21 | 0.27 | 0.33 | 95 | Bank Loan | FQIFX vs FFRHX | |
| Fidelity Short-Term Bond Fund | 0.36 | 0.32 | 0.31 | 84 | Short-Term Bond, Investment Grade Bonds, Actively Managed | FQIFX vs FSHBX | |
| Fidelity Equity-Income Fund | 0.67 | 0.73 | 0.77 | 90 | Large Cap Value Equities | FQIFX vs FEQIX | |
| Fidelity Select Semiconductors Portfolio | 0.70 | 0.67 | 0.71 | 80 | Semiconductors, Technology Equities | FQIFX vs FSELX |
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