Looking to diversify beyond FYMIX? The mutual funds below have historically moved differently from FYMIX, 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 FYMIX
5 mutual funds have low correlation with FYMIX (below 0.3), 2 of which are negatively correlated. The least correlated is SEI Institutional Managed Trust Multi-Asset Inflation Managed Fund (SIFAX) (Diversified Portfolio) with a 1Y correlation of -0.26, down from -0.07 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Multi-Asset Inflat... | -0.26 | -0.07 | — | 83 | Diversified Portfolio | FYMIX vs SIFAX | |
| MH Elite Small Cap Fund of Funds Fund | -0.00 | 0.12 | — | 68 | Diversified Portfolio | FYMIX vs MHELX | |
| Hennessy Total Return Fund | 0.11 | 0.37 | — | 73 | Diversified Portfolio | FYMIX vs HDOGX | |
| Crawford Multi-Asset Income Fund | 0.17 | 0.42 | — | 58 | Diversified Portfolio | FYMIX vs CMALX | |
| Hennessy Balanced Fund | 0.18 | 0.42 | — | 91 | Diversified Portfolio | FYMIX vs HBFBX |
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