Looking to diversify beyond FGPMX? The mutual funds below have historically moved differently from FGPMX, 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 FGPMX
2 mutual funds have low correlation with FGPMX (below 0.3), 1 of which are negatively correlated. The least correlated is Fidelity Select Energy Portfolio (FSENX) (Energy Equities) with a 1Y correlation of -0.01, down from 0.28 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | -0.01 | 0.16 | 0.28 | 87 | Energy Equities | FGPMX vs FSENX | |
| Franklin Income Fund Advisor Class | 0.27 | 0.31 | 0.39 | 93 | Diversified Portfolio | FGPMX vs FRIAX | |
| Franklin Income Fund Class A1 | 0.32 | 0.31 | 0.39 | 87 | Diversified Portfolio | FGPMX vs FKINX | |
| Fidelity Select Semiconductors Portfolio | 0.38 | 0.28 | 0.30 | 80 | Semiconductors, Technology Equities | FGPMX vs FSELX | |
| Fidelity 500 Index Fund | 0.44 | 0.32 | 0.34 | 64 | S&P 500 | FGPMX vs FXAIX |
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