Looking to diversify beyond FGLGX? The mutual funds below have historically moved differently from FGLGX, 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 FGLGX
2 mutual funds have low correlation with FGLGX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Series Commodity Strategy Fund (FCSSX) (Commodities) with a 1Y correlation of 0.03, down from 0.27 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Series Commodity Strategy Fund | 0.03 | 0.14 | 0.27 | 73 | Commodities | FGLGX vs FCSSX | |
| Fidelity Floating Rate High Income Fund | 0.26 | 0.32 | 0.36 | 95 | Bank Loan | FGLGX vs FFRHX | |
| Goldman Sachs Strategic Volatility Premium Fund | 0.35 | 0.13 | 0.09 | 97 | Large Cap Blend Equities | FGLGX vs SVPFX | |
| Federated Hermes MDT All Cap Core Fund | 0.42 | 0.60 | 0.76 | 53 | Large Cap Blend Equities | FGLGX vs QIACX | |
| Federated Hermes MDT All Cap Core Fund Class R6 | 0.42 | 0.60 | 0.76 | 50 | Large Cap Blend Equities | FGLGX vs QKACX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FGLGX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Broadcom Inc. (AVGO) (Technology) with a 1Y correlation of 0.55, roughly unchanged from 0.62 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Broadcom Inc. | 0.55 | 0.59 | 0.62 | 67 | Technology | |
| NVIDIA Corporation | 0.61 | 0.60 | 0.63 | 56 | Technology | |
| Taiwan Semiconductor Manufacturing Company Limited | 0.63 | 0.62 | 0.62 | 87 | Technology |
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