Looking to diversify beyond FGFAX? The mutual funds below have the lowest correlation with FGFAX — 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 FGFAX.
Best Diversifiers for FGFAX
0 mutual funds have low correlation with FGFAX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes Opportunistic High Yield Bond Fund (FHYTX) (High Yield Bonds) with a 1Y correlation of 0.32, down from 0.55 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Opportunistic High Yield Bond Fun... | 0.32 | 0.45 | 0.55 | 59 | High Yield Bonds | FGFAX vs FHYTX | |
| Federated Hermes Institutional High Yield Bond Fun... | 0.33 | 0.42 | 0.48 | 64 | High Yield Bonds | FGFAX vs FIHBX | |
| Federated Hermes MDT All Cap Core Fund | 0.33 | 0.52 | 0.65 | 56 | Large Cap Blend Equities | FGFAX vs QIACX | |
| Federated Hermes Strategic Value Dividend Fund | 0.47 | 0.52 | 0.60 | 70 | Large Cap Value Equities | FGFAX vs SVAIX | |
| Kopernik International Fund | 0.53 | 0.45 | 0.59 | 81 | Foreign Large Cap Equities | FGFAX vs KGIIX |
See all 20 diversifiers for FGFAX
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