Looking to diversify beyond FDGFX? The mutual funds below have historically moved differently from FDGFX, 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 FDGFX
11 mutual funds have low correlation with FDGFX (below 0.3), 2 of which are negatively correlated. The least correlated is GQG Partners US Quality Dividend Income Fund (GQHPX) (Quality Factor) with a 1Y correlation of -0.20, down from 0.54 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| GQG Partners US Quality Dividend Income Fund | -0.20 | 0.33 | 0.54 | 62 | Quality Factor, Large Cap Value Equities | FDGFX vs GQHPX | |
| Voya Corporate Leaders Trust Fund | -0.04 | 0.28 | 0.50 | 93 | Large Cap Value Equities | FDGFX vs LEXCX | |
| Fidelity Select Energy Portfolio | 0.01 | 0.27 | 0.39 | 87 | Energy Equities | FDGFX vs FSENX | |
| Federated Hermes Equity Income Fund | 0.04 | 0.40 | 0.66 | 72 | Dividend, Large Cap Value Equities | FDGFX vs LEIFX | |
| Federated Hermes Strategic Value Dividend Fund Cla... | 0.04 | 0.26 | 0.48 | 93 | Dividend | FDGFX vs SVAAX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FDGFX, 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 Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.26, down from 0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.26 | -0.04 | 0.10 | 66 | Consumer Defensive | |
| Duke Energy Corporation | -0.24 | -0.07 | 0.12 | 56 | Utilities | |
| The Coca-Cola Company | -0.23 | -0.04 | 0.19 | 90 | Consumer Defensive | |
| PepsiCo, Inc. | -0.22 | -0.01 | 0.17 | 50 | Consumer Defensive | |
| Chubb Limited | -0.21 | 0.04 | 0.25 | 89 | Financial Services |
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