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
11 mutual funds have low correlation with FSHIX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes Strategic Value Dividend Fund (SVAIX) (Large Cap Value Equities) with a 1Y correlation of 0.10, roughly unchanged from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Strategic Value Dividend Fund | 0.10 | 0.19 | 0.12 | 70 | Large Cap Value Equities | FSHIX vs SVAIX | |
| DFA Short Term Municipal Bond Portfolio | 0.12 | 0.27 | 0.36 | 99 | Municipal Bonds | FSHIX vs DFSMX | |
| DFA Short-Term Selective State Municipal Bond Port... | 0.15 | 0.31 | — | 100 | Municipal Bonds | FSHIX vs DFABX | |
| Federated Hermes MDT All Cap Core Fund | 0.15 | 0.12 | 0.09 | 56 | Large Cap Blend Equities | FSHIX vs QIACX | |
| DFA NY Municipal Bond Portfolio | 0.19 | 0.32 | 0.41 | 99 | Municipal Bonds | FSHIX vs DNYMX |
See all 20 diversifiers for FSHIX
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