Looking to diversify beyond FSUTX? The mutual funds below have historically moved differently from FSUTX, 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 FSUTX
25 mutual funds have low correlation with FSUTX (below 0.3), 3 of which are negatively correlated. The least correlated is T. Rowe Price Floating Rate Fund - Investor Class (PRFRX) (High Yield Bonds) with a 1Y correlation of -0.06, down from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| T. Rowe Price Floating Rate Fund - Investor Class | -0.06 | 0.12 | 0.13 | 89 | High Yield Bonds | FSUTX vs PRFRX | |
| Vanguard Market Neutral Fund Investor Shares | -0.04 | -0.10 | -0.10 | 97 | Long-Short | FSUTX vs VMNFX | |
| BlackRock Global Equity Market Neutral Fund Class ... | -0.00 | -0.07 | -0.04 | 98 | Equity Market Neutral | FSUTX vs BDMIX | |
| Fidelity Floating Rate High Income Fund | 0.01 | 0.12 | 0.16 | 93 | Bank Loan | FSUTX vs FFRHX | |
| AQR Long-Short Equity Fund | 0.01 | 0.11 | 0.13 | 77 | Long-Short | FSUTX vs QLEIX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FSUTX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Palo Alto Networks, Inc. (PANW) (Technology) with a 1Y correlation of -0.07, down from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Palo Alto Networks, Inc. | -0.07 | 0.05 | 0.12 | 90 | Technology | |
| CrowdStrike Holdings, Inc. | -0.03 | 0.07 | 0.12 | 83 | Technology | |
| Airbnb, Inc. | 0.00 | 0.09 | 0.16 | 63 | Consumer Cyclical | |
| Chevron Corporation | 0.01 | 0.14 | 0.22 | 79 | Energy | |
| Murphy Oil Corporation | 0.01 | 0.10 | 0.18 | 83 | Energy |
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