Looking to diversify beyond FGRAX? The mutual funds below have historically moved differently from FGRAX, 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 FGRAX
2 mutual funds have low correlation with FGRAX (below 0.3), 0 of which are negatively correlated. The least correlated is Franklin Colorado Tax-Free Income Fund Class A (FCOQX) (Municipal Bonds) with a 1Y correlation of 0.18, roughly unchanged from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Franklin Colorado Tax-Free Income Fund Class A | 0.18 | 0.12 | 0.13 | 86 | Municipal Bonds | FGRAX vs FCOQX | |
| Franklin California High Yield Municipal Fund Advi... | 0.22 | 0.14 | 0.14 | 87 | High Yield Muni | FGRAX vs FVCAX | |
| Davis New York Venture Fund Class Y | 0.62 | 0.68 | 0.73 | 90 | Large Cap Growth Equities | FGRAX vs DNVYX | |
| ICON Equity Fund | 0.69 | 0.63 | 0.71 | 80 | Large Cap Growth Equities | FGRAX vs IOLZX | |
| Vanguard Small-Cap Index Fund Admiral Shares | 0.69 | 0.70 | 0.77 | 66 | Small Cap Blend Equities | FGRAX vs VSMAX |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements FGRAX
Add FGRAX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with FGRAX