Looking to diversify beyond FEGIX? The mutual funds below have historically moved differently from FEGIX, 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 FEGIX
15 mutual funds have low correlation with FEGIX (below 0.3), 2 of which are negatively correlated. The least correlated is Rydex Commodities Strategy Fund (RYMEX) (Commodities) with a 1Y correlation of -0.05, down from 0.20 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Rydex Commodities Strategy Fund | -0.05 | 0.13 | 0.20 | 53 | Commodities | FEGIX vs RYMEX | |
| DoubleLine Strategic Commodity Fund | -0.01 | 0.13 | 0.20 | 85 | Commodities | FEGIX vs DBCMX | |
| PIMCO CommoditiesPLUS Strategy Fund | 0.04 | 0.17 | 0.24 | 70 | Commodities | FEGIX vs PCLAX | |
| PIMCO CommoditiesPLUS Strategy Fund | 0.04 | 0.17 | 0.24 | 72 | Commodities | FEGIX vs PCLIX | |
| PIMCO CommoditiesPLUS Strategy I2 | 0.04 | 0.17 | 0.24 | 70 | Commodities | FEGIX vs PCLPX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FEGIX, 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 Globe Life Inc. (GL) (Financial Services) with a 1Y correlation of 0.06, roughly unchanged from 0.11 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Globe Life Inc. | 0.06 | 0.09 | 0.11 | 84 | Financial Services |
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