Looking to diversify beyond FYAIX? The mutual funds below have historically moved differently from FYAIX, 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 FYAIX
6 mutual funds have low correlation with FYAIX (below 0.3), 2 of which are negatively correlated. The least correlated is ProFunds UltraSector Oil & Gas Fund (ENPIX) (Leveraged Equities) with a 1Y correlation of -0.13, down from 0.17 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProFunds UltraSector Oil & Gas Fund | -0.13 | 0.09 | 0.17 | 63 | Leveraged Equities | FYAIX vs ENPIX | |
| Pioneer ILS Interval Fund | -0.03 | -0.04 | -0.02 | 100 | High Yield Bonds | FYAIX vs XILSX | |
| Fairholme Focused Income Fund | 0.05 | 0.28 | 0.36 | 73 | High Yield Bonds | FYAIX vs FOCIX | |
| Cliffwater Corporate Lending Fund Class I Shares | 0.14 | 0.12 | 0.08 | 100 | Bank Loan, High Yield Bonds | FYAIX vs CCLFX | |
| RiverPark Short Term High Yield Fund | 0.22 | 0.18 | 0.18 | 100 | High Yield Bonds | FYAIX vs RPHIX |
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