Looking to diversify beyond FDEGX? The mutual funds below have the lowest correlation with FDEGX — 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 FDEGX.
Best Diversifiers for FDEGX
1 mutual funds have low correlation with FDEGX (below 0.3), 0 of which are negatively correlated. The least correlated is Diamond Hill Short Duration Securitized Bond Fund (DHEAX) (Short-Term Bond) with a 1Y correlation of 0.15, roughly unchanged from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Diamond Hill Short Duration Securitized Bond Fund | 0.15 | 0.04 | 0.07 | 99 | Short-Term Bond | FDEGX vs DHEAX | |
| Baron Focused Growth Fund Institutional Shares | 0.59 | 0.72 | 0.78 | 54 | Mid Cap Growth Equities | FDEGX vs BFGIX | |
| Fidelity Emerging Markets Index Fund | 0.61 | 0.57 | 0.59 | 85 | Emerging Markets Diversified | FDEGX vs FPADX | |
| Baron Focused Growth Fund | 0.61 | 0.73 | 0.78 | 53 | Mid Cap Growth Equities | FDEGX vs BFGFX | |
| Harbor Mid Cap Value Fund | 0.64 | 0.68 | 0.72 | 88 | Mid Cap Value Equities | FDEGX vs HAMVX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FDEGX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FDEGX and solid risk/return profiles. The least correlated is Tesla, Inc. (TSLA) (Consumer Cyclical) with a 1Y correlation of 0.45, roughly unchanged from 0.53 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Tesla, Inc. | 0.45 | 0.48 | 0.53 | 59 | Consumer Cyclical |
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