Looking to diversify beyond FDGRX? The mutual funds below have historically moved differently from FDGRX, 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 FDGRX
8 mutual funds have low correlation with FDGRX (below 0.3), 2 of which are negatively correlated. The least correlated is Fidelity SAI Inflation-Focused (FIFGX) (Commodities) with a 1Y correlation of -0.14, down from 0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity SAI Inflation-Focused | -0.14 | 0.01 | 0.10 | 78 | Commodities | FDGRX vs FIFGX | |
| Fidelity Select Energy Portfolio | -0.12 | 0.09 | 0.21 | 87 | Energy Equities | FDGRX vs FSENX | |
| Vanguard Short-Term Inflation-Protected Securities... | 0.01 | 0.04 | 0.11 | 91 | Inflation-Protected Bonds | FDGRX vs VTAPX | |
| Fidelity SAI International Low Volatility Index Fu... | 0.21 | 0.29 | 0.44 | 58 | Foreign Large Cap Equities, Low Volatility | FDGRX vs FSKLX | |
| Principal Diversified Real Asset Fund | 0.25 | 0.35 | 0.46 | 87 | Global Allocation | FDGRX vs PDRDX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FDGRX, 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 Duke Energy Corporation (DUK) (Utilities) with a 1Y correlation of -0.37, down from -0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Duke Energy Corporation | -0.37 | -0.23 | -0.07 | 52 | Utilities | |
| Altria Group, Inc. | -0.36 | -0.17 | -0.04 | 66 | Consumer Defensive | |
| Chubb Limited | -0.35 | -0.12 | 0.08 | 87 | Financial Services | |
| The Coca-Cola Company | -0.31 | -0.15 | 0.05 | 87 | Consumer Defensive | |
| Verizon Communications Inc. | -0.28 | -0.15 | -0.02 | 66 | Communication Services |
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