Looking to diversify beyond FGCSX? The mutual funds below have historically moved differently from FGCSX, 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 FGCSX
9 mutual funds have low correlation with FGCSX (below 0.3), 1 of which are negatively correlated. The least correlated is Federated Hermes MDT Market Neutral A (QAMNX) (Long-Short) with a 1Y correlation of -0.01, roughly unchanged from -0.08 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes MDT Market Neutral A | -0.01 | -0.08 | — | 54 | Long-Short | FGCSX vs QAMNX | |
| GuidePath Absolute Return Allocation Fund | 0.06 | 0.45 | 0.59 | 69 | Short-Term Bond | FGCSX vs GPARX | |
| GuidepathConservative Income Fund | 0.08 | 0.24 | 0.39 | 99 | Short-Term Bond | FGCSX vs GPICX | |
| Leader Short Term High Yield Bond Fund | 0.08 | 0.12 | 0.20 | 84 | Short-Term Bond | FGCSX vs LCCMX | |
| Federated Hermes Strategic Value Dividend Fund | 0.10 | 0.19 | 0.16 | 94 | Large Cap Value Equities | FGCSX vs SVAIX |
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