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 High-Yield Strategy Portfolio (FHYSX) (High Yield Bonds) with a 1Y correlation of 0.32, down from 0.47 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes High-Yield Strategy Portfolio | 0.32 | 0.40 | 0.47 | 69 | High Yield Bonds | FGFAX vs FHYSX | |
| Federated Hermes Institutional High Yield Bond Fun... | 0.35 | 0.43 | 0.49 | 61 | High Yield Bonds | FGFAX vs FIHBX | |
| Federated Hermes Opportunistic High Yield Bond Fun... | 0.36 | 0.45 | 0.55 | 54 | High Yield Bonds | FGFAX vs FHYTX | |
| Federated Hermes Strategic Value Dividend Fund | 0.40 | 0.51 | 0.59 | 90 | Large Cap Value Equities | FGFAX vs SVAIX | |
| Tweedy, Browne International Value Fund | 0.56 | 0.66 | 0.76 | 62 | Foreign Large Cap Equities | FGFAX vs TBGVX |
See all 21 diversifiers for FGFAX
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