Looking to diversify beyond FGLGX? The mutual funds below have the lowest correlation with FGLGX — 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 FGLGX.
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 Floating Rate High Income Fund (FFRHX) (Bank Loan) with a 1Y correlation of 0.26, down from 0.37 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Floating Rate High Income Fund | 0.26 | 0.33 | 0.37 | 92 | Bank Loan | FGLGX vs FFRHX | |
| Goldman Sachs Strategic Volatility Premium Fund | 0.30 | 0.12 | 0.08 | 72 | Large Cap Blend Equities | FGLGX vs SVPFX | |
| North Square Preferred and Income Securities Fund | 0.49 | 0.35 | 0.42 | 69 | Large Cap Blend Equities | FGLGX vs ORDNX | |
| Rock Oak Core Growth Fund | 0.63 | 0.73 | 0.81 | 62 | Large Cap Blend Equities | FGLGX vs RCKSX | |
| Glenmede Responsible ESG U.S. Equity Portfolio | 0.64 | 0.79 | 0.87 | 88 | Large Cap Blend Equities | FGLGX vs RESGX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FGLGX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FGLGX and solid risk/return profiles. The least correlated is Broadcom Inc. (AVGO) (Technology) with a 1Y correlation of 0.55, roughly unchanged from 0.62 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Broadcom Inc. | 0.55 | 0.59 | 0.62 | 75 | Technology | |
| NVIDIA Corporation | 0.61 | 0.60 | 0.62 | 76 | Technology | |
| Taiwan Semiconductor Manufacturing Company Limited | 0.63 | 0.62 | 0.61 | 95 | Technology |
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