Looking to diversify beyond FSHIX? The mutual funds below have the lowest correlation with FSHIX — 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 FSHIX.
Best Diversifiers for FSHIX
15 mutual funds have low correlation with FSHIX (below 0.3), 0 of which are negatively correlated. The least correlated is DFA Short Term Municipal Bond Portfolio (DFSMX) (Municipal Bonds) with a 1Y correlation of 0.08, down from 0.36 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA Short Term Municipal Bond Portfolio | 0.08 | 0.26 | 0.36 | 99 | Municipal Bonds | FSHIX vs DFSMX | |
| Federated Hermes Strategic Value Dividend Fund | 0.09 | 0.19 | 0.12 | 80 | Large Cap Value Equities | FSHIX vs SVAIX | |
| DFA Short-Term Selective State Municipal Bond Port... | 0.15 | 0.30 | 0.41 | 100 | Municipal Bonds | FSHIX vs DFABX | |
| JPMorgan Ultra-Short Municipal Fund | 0.17 | 0.33 | 0.40 | 99 | Municipal Bonds | FSHIX vs USMSX | |
| DFA NY Municipal Bond Portfolio | 0.19 | 0.32 | 0.40 | 99 | Municipal Bonds | FSHIX vs DNYMX |
See all 23 diversifiers for FSHIX
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