Looking to diversify beyond FAGAX? The mutual funds below have historically moved differently from FAGAX, 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 FAGAX
1 mutual funds have low correlation with FAGAX (below 0.3), 0 of which are negatively correlated. The least correlated is PACE Large Co Value Equity Investments (PCLVX) (Large Cap Value Equities) with a 1Y correlation of 0.28, down from 0.59 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PACE Large Co Value Equity Investments | 0.28 | 0.44 | 0.59 | 88 | Large Cap Value Equities | FAGAX vs PCLVX | |
| Fidelity Advisor Health Care Fund Class A | 0.31 | 0.47 | 0.61 | 68 | Health & Biotech Equities | FAGAX vs FACDX | |
| Fidelity Advisor Strategic Dividend & Income Fund ... | 0.43 | 0.54 | 0.64 | 91 | Diversified Portfolio | FAGAX vs FASDX | |
| Davis New York Venture Fund Class Y | 0.58 | 0.68 | 0.76 | 90 | Large Cap Growth Equities | FAGAX vs DNVYX | |
| Fidelity High Income Fund | 0.61 | 0.49 | 0.50 | 90 | High Yield Bonds | FAGAX vs SPHIX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FAGAX, 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 UnitedHealth Group Incorporated (UNH) (Healthcare) with a 1Y correlation of 0.10, roughly unchanged from 0.14 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| UnitedHealth Group Incorporated | 0.10 | 0.02 | 0.14 | 86 | Healthcare | |
| Precigen, Inc. | 0.19 | 0.29 | 0.41 | 96 | Healthcare |
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