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
10 mutual funds have low correlation with FDGFX (below 0.3), 1 of which are negatively correlated. The least correlated is Voya Corporate Leaders Trust Fund (LEXCX) (Large Cap Value Equities) with a 1Y correlation of -0.00, down from 0.51 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Voya Corporate Leaders Trust Fund | -0.00 | 0.30 | 0.51 | 70 | Large Cap Value Equities | FDGFX vs LEXCX | |
| Fidelity Select Energy Portfolio | 0.03 | 0.28 | 0.41 | 62 | Energy Equities | FDGFX vs FSENX | |
| Federated Hermes Equity Income Fund | 0.04 | 0.42 | 0.67 | 72 | Large Cap Value Equities | FDGFX vs LEIFX | |
| Federated Hermes Strategic Value Dividend Fund Cla... | 0.08 | 0.28 | 0.50 | 84 | Dividend | FDGFX vs SVAAX | |
| Vanguard Short-Term Inflation-Protected Securities... | 0.09 | 0.10 | 0.16 | 90 | Inflation-Protected Bonds | FDGFX vs VTAPX |
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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 The Coca-Cola Company (KO) (Consumer Defensive) with a 1Y correlation of -0.22, down from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Coca-Cola Company | -0.22 | -0.03 | 0.20 | 83 | Consumer Defensive | |
| Altria Group, Inc. | -0.22 | -0.03 | 0.12 | 81 | Consumer Defensive | |
| Duke Energy Corporation | -0.21 | -0.05 | 0.13 | 66 | Utilities | |
| Chubb Limited | -0.21 | 0.03 | 0.28 | 86 | Financial Services | |
| Waste Management, Inc. | -0.21 | 0.06 | 0.26 | 53 | Industrials |
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