Looking to diversify beyond FDGFX? The mutual funds below have the lowest correlation with FDGFX — 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 FDGFX.
Best Diversifiers for FDGFX
6 mutual funds have low correlation with FDGFX (below 0.3), 1 of which are negatively correlated. The least correlated is Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares (VTAPX) (Inflation-Protected Bonds) with a 1Y correlation of -0.01, down from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Short-Term Inflation-Protected Securities... | -0.01 | 0.07 | 0.15 | 94 | Inflation-Protected Bonds | FDGFX vs VTAPX | |
| Fidelity Select Energy Portfolio | 0.05 | 0.30 | 0.42 | 78 | Energy Equities | FDGFX vs FSENX | |
| Voya Corporate Leaders Trust Fund | 0.07 | 0.33 | 0.54 | 52 | Large Cap Value Equities | FDGFX vs LEXCX | |
| Federated Hermes Equity Income Fund | 0.09 | 0.47 | 0.70 | 53 | Large Cap Value Equities | FDGFX vs LEIFX | |
| Fidelity Natural Resources Fund | 0.24 | 0.42 | 0.52 | 87 | Energy Equities | FDGFX vs FNARX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FDGFX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FDGFX and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.18, down from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.18 | 0.00 | 0.14 | 67 | Consumer Defensive | |
| The Coca-Cola Company | -0.16 | 0.01 | 0.21 | 63 | Consumer Defensive | |
| Duke Energy Corporation | -0.13 | -0.02 | 0.12 | 52 | Utilities | |
| Verizon Communications Inc. | -0.11 | -0.00 | 0.15 | 62 | Communication Services | |
| Exxon Mobil Corporation | -0.11 | 0.10 | 0.25 | 85 | Energy |
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Build a portfolio that complements FDGFX
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