Looking to diversify beyond FGILX? The mutual funds below have the lowest correlation with FGILX — 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 FGILX.
Best Diversifiers for FGILX
1 mutual funds have low correlation with FGILX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Floating Rate High Income Fund (FFRHX) (High Yield Bonds) with a 1Y correlation of 0.24, down from 0.35 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Floating Rate High Income Fund | 0.24 | 0.31 | 0.35 | 93 | High Yield Bonds | FGILX vs FFRHX | |
| Polaris Global Value Fund | 0.60 | 0.75 | 0.82 | 89 | Global Equities | FGILX vs PGVFX | |
| Fidelity Select Semiconductors Portfolio | 0.61 | 0.60 | 0.66 | 97 | Semiconductors, Technology Equities | FGILX vs FSELX | |
| Russell Investment Tax-Managed Real Assets Fund | 0.62 | 0.73 | 0.80 | 80 | Global Equities | FGILX vs RTXAX | |
| T. Rowe Price Real Assets Fund | 0.63 | 0.73 | 0.80 | 58 | Global Equities | FGILX vs PRAFX |
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