Looking to diversify beyond FDGDX? The mutual funds below have historically moved differently from FDGDX, 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 FDGDX
3 mutual funds have low correlation with FDGDX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes Strategic Value Dividend Fund Class A (SVAAX) (Dividend) with a 1Y correlation of 0.04, down from 0.52 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Strategic Value Dividend Fund Cla... | 0.04 | 0.33 | 0.52 | 93 | Dividend | FDGDX vs SVAAX | |
| American Century Equity Income Fund Class I | 0.28 | 0.39 | 0.62 | 84 | Dividend, Large Cap Value Equities | FDGDX vs ACIIX | |
| American Century Equity Income Fund | 0.29 | 0.39 | 0.62 | 83 | Dividend, Large Cap Value Equities | FDGDX vs TWEIX | |
| Pioneer Multi-Asset Income Fund A | 0.31 | 0.38 | 0.50 | 92 | Diversified Portfolio, Dividend | FDGDX vs PMAIX | |
| Hartford Equity Income Fund Class I | 0.37 | 0.52 | 0.69 | 74 | Dividend | FDGDX vs HQIIX |
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