Looking to diversify beyond FZAHX? The mutual funds below have historically moved differently from FZAHX, 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 FZAHX
1 mutual funds have low correlation with FZAHX (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard Mid-Cap Value Index Fund Admiral Shares (VMVAX) (Mid Cap Value Equities) with a 1Y correlation of 0.26, down from 0.57 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Mid-Cap Value Index Fund Admiral Shares | 0.26 | 0.42 | 0.57 | 89 | Mid Cap Value Equities | FZAHX vs VMVAX | |
| Davis New York Venture Fund Class Y | 0.59 | 0.68 | 0.76 | 90 | Large Cap Growth Equities | FZAHX vs DNVYX | |
| Fidelity International Index Fund | 0.63 | 0.59 | 0.66 | 70 | Foreign Large Cap Equities | FZAHX vs FSPSX | |
| ICON Equity Fund | 0.63 | 0.60 | 0.71 | 80 | Large Cap Growth Equities | FZAHX vs IOLZX | |
| Vanguard Developed Markets Index Fund Admiral Shar... | 0.66 | 0.64 | 0.70 | 76 | Foreign Large Cap Equities | FZAHX vs VTMGX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FZAHX, 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 Apple Inc (AAPL) (Technology) with a 1Y correlation of 0.32, down from 0.59 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Apple Inc | 0.32 | 0.43 | 0.59 | 89 | Technology |
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