Looking to diversify beyond FGRAX? The mutual funds below have the lowest correlation with FGRAX — 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 FGRAX.
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.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Franklin Colorado Tax-Free Income Fund Class A | 0.18 | 0.13 | 0.13 | 75 | Municipal Bonds | FGRAX vs FCOQX | |
| Franklin California High Yield Municipal Fund Advi... | 0.21 | 0.15 | 0.14 | 75 | High Yield Muni | FGRAX vs FVCAX | |
| Baron Partners Fund | 0.52 | 0.60 | 0.70 | 72 | Large Cap Growth Equities | FGRAX vs BPTRX | |
| ICON Equity Fund | 0.62 | 0.61 | 0.70 | 84 | Large Cap Growth Equities | FGRAX vs IOLZX | |
| Davis New York Venture Fund Class Y | 0.63 | 0.69 | 0.73 | 80 | Large Cap Growth Equities | FGRAX vs DNVYX |
See all 35 diversifiers for FGRAX
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