Looking to diversify beyond FEGIX? The mutual funds below have the lowest correlation with FEGIX — 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 FEGIX.
Best Diversifiers for FEGIX
4 mutual funds have low correlation with FEGIX (below 0.3), 1 of which are negatively correlated. The least correlated is DoubleLine Strategic Commodity Fund (DBCMX) (Commodities) with a 1Y correlation of -0.01, down from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DoubleLine Strategic Commodity Fund | -0.01 | 0.14 | 0.20 | 71 | Commodities | FEGIX vs DBCMX | |
| Invesco Balanced-Risk Commodity Strategy Fund Clas... | 0.27 | 0.35 | 0.38 | 66 | Commodities | FEGIX vs BRCAX | |
| Invesco Balanced-Risk Commodity Strategy Fund | 0.28 | 0.36 | 0.39 | 67 | Commodities | FEGIX vs BRCYX | |
| Janus Henderson Global Technology and Innovation F... | 0.29 | 0.22 | 0.23 | 53 | Technology Equities | FEGIX vs JNGTX | |
| Fidelity Blue Chip Growth Fund | 0.32 | 0.24 | 0.23 | 61 | Large Cap Growth Equities | FEGIX vs FBGRX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FEGIX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FEGIX and solid risk/return profiles. The least correlated is Globe Life Inc. (GL) (Financial Services) with a 1Y correlation of 0.06, roughly unchanged from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Globe Life Inc. | 0.06 | 0.09 | 0.12 | 94 | Financial Services |
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