Looking to diversify beyond FGKFX? The mutual funds below have the lowest correlation with FGKFX — 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 FGKFX.
Best Diversifiers for FGKFX
2 mutual funds have low correlation with FGKFX (below 0.3), 1 of which are negatively correlated. The least correlated is Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares (VTAPX) (Inflation-Protected Bonds) with a 1Y correlation of -0.01, down from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Short-Term Inflation-Protected Securities... | -0.01 | 0.05 | 0.11 | 84 | Inflation-Protected Bonds | FGKFX vs VTAPX | |
| BNY Mellon Natural Resources Fund | 0.29 | 0.39 | 0.43 | 62 | Energy Equities | FGKFX vs DLDRX | |
| Fidelity Floating Rate High Income Fund | 0.30 | 0.28 | 0.30 | 92 | Bank Loan | FGKFX vs FFRHX | |
| Vanguard Equity Income Fund Investor Shares | 0.41 | 0.46 | 0.56 | 59 | Large Cap Value Equities | FGKFX vs VEIPX | |
| Vanguard Equity Income Fund Admiral Shares | 0.41 | 0.46 | 0.56 | 59 | Large Cap Value Equities | FGKFX vs VEIRX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FGKFX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FGKFX and solid risk/return profiles. The least correlated is Duke Energy Corporation (DUK) (Utilities) with a 1Y correlation of -0.27, down from -0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Duke Energy Corporation | -0.27 | -0.18 | -0.07 | 62 | Utilities | |
| Chubb Limited | -0.26 | -0.08 | 0.08 | 69 | Financial Services | |
| Altria Group, Inc. | -0.26 | -0.13 | -0.01 | 72 | Consumer Defensive | |
| The Coca-Cola Company | -0.26 | -0.11 | 0.05 | 74 | Consumer Defensive | |
| The Southern Company | -0.24 | -0.16 | -0.02 | 55 | Utilities |
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