Looking to diversify beyond FGMNX? The mutual funds below have historically moved differently from FGMNX, 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 FGMNX
5 mutual funds have low correlation with FGMNX (below 0.3), 0 of which are negatively correlated. The least correlated is T. Rowe Price Floating Rate Fund - Investor Class (PRFRX) (High Yield Bonds) with a 1Y correlation of 0.05, roughly unchanged from 0.14 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| T. Rowe Price Floating Rate Fund - Investor Class | 0.05 | 0.12 | 0.14 | 89 | High Yield Bonds | FGMNX vs PRFRX | |
| Fidelity Select Semiconductors Portfolio | 0.10 | 0.07 | 0.10 | 80 | Semiconductors, Technology Equities | FGMNX vs FSELX | |
| Fidelity 500 Index Fund | 0.28 | 0.21 | 0.18 | 59 | S&P 500 | FGMNX vs FXAIX | |
| Fidelity ZERO Large Cap Index Fund | 0.29 | 0.22 | 0.19 | 54 | Large Cap Blend Equities | FGMNX vs FNILX | |
| GMO U.S. Treasury Fund | 0.30 | 0.15 | 0.11 | 99 | Government Bonds | FGMNX vs GUSTX |
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