Looking to diversify beyond FASGX? The mutual funds below have the lowest correlation with FASGX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from FASGX.
Best Diversifiers for FASGX
23 mutual funds have low correlation with FASGX (below 0.3), 3 of which are negatively correlated. The least correlated is SEI Institutional Managed Trust Tax-Free Conservative Income Fund (TFCYX) (Municipal Bonds) with a 1Y correlation of -0.09, roughly unchanged from 0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Tax-Free Conservat... | -0.09 | -0.01 | 0.01 | 99 | Municipal Bonds | FASGX vs TFCYX | |
| BlackRock Tactical Opportunities Fund Institutiona... | -0.01 | 0.25 | 0.19 | 81 | Tactical Allocation | FASGX vs PBAIX | |
| BlackRock Tactical Opportunities Fund | -0.01 | 0.25 | 0.20 | 79 | Macro Trading | FASGX vs PCBAX | |
| MH Elite Small Cap Fund of Funds Fund | 0.04 | 0.17 | 0.50 | 70 | Diversified Portfolio | FASGX vs MHELX | |
| BlackRock Short Obligations Fund | 0.15 | 0.10 | 0.11 | 99 | Ultrashort Bond | FASGX vs BBSOX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FASGX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FASGX and solid risk/return profiles. The least correlated is Verizon Communications Inc. (VZ) (Communication Services) with a 1Y correlation of -0.10, down from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Verizon Communications Inc. | -0.10 | 0.04 | 0.15 | 66 | Communication Services | |
| Bank of America Corporation | 0.40 | 0.47 | 0.55 | 74 | Financial Services |
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