Looking to diversify beyond FZAFX? The mutual funds below have historically moved differently from FZAFX, 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 FZAFX
0 mutual funds have low correlation with FZAFX (below 0.3), 0 of which are negatively correlated. The least correlated is PIMCO Diversified Income Fund (PDIIX) (Multisector Bonds) with a 1Y correlation of 0.41, roughly unchanged from 0.36 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PIMCO Diversified Income Fund | 0.41 | 0.32 | 0.36 | 61 | Multisector Bonds | FZAFX vs PDIIX | |
| Davis New York Venture Fund Class Y | 0.63 | 0.71 | 0.77 | 90 | Large Cap Growth Equities | FZAFX vs DNVYX | |
| ICON Equity Fund | 0.69 | 0.64 | 0.73 | 80 | Large Cap Growth Equities | FZAFX vs IOLZX | |
| Fidelity International Index Fund | 0.69 | 0.64 | 0.70 | 70 | Foreign Large Cap Equities | FZAFX vs FSPSX | |
| Vanguard Developed Markets Index Fund Admiral Shar... | 0.71 | 0.68 | 0.73 | 76 | Foreign Large Cap Equities | FZAFX vs VTMGX |
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