Looking to diversify beyond FGRIX? The mutual funds below have the lowest correlation with FGRIX — 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 FGRIX.
Best Diversifiers for FGRIX
5 mutual funds have low correlation with FGRIX (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares (VTAPX) (Inflation-Protected Bonds) with a 1Y correlation of 0.07, roughly unchanged from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Short-Term Inflation-Protected Securities... | 0.07 | 0.09 | 0.14 | 90 | Inflation-Protected Bonds | FGRIX vs VTAPX | |
| Fidelity Select Energy Portfolio | 0.09 | 0.36 | 0.52 | 62 | Energy Equities | FGRIX vs FSENX | |
| Fidelity Conservative Income Bond Institutional Cl... | 0.14 | 0.04 | 0.01 | 100 | Ultrashort Bond | FGRIX vs FCNVX | |
| Voya Corporate Leaders Trust Fund | 0.15 | 0.45 | 0.64 | 70 | Large Cap Value Equities | FGRIX vs LEXCX | |
| Fidelity Floating Rate High Income Fund | 0.19 | 0.32 | 0.36 | 93 | Bank Loan | FGRIX vs FFRHX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FGRIX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FGRIX and solid risk/return profiles. The least correlated is The Coca-Cola Company (KO) (Consumer Defensive) with a 1Y correlation of -0.07, down from 0.27 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Coca-Cola Company | -0.07 | 0.09 | 0.27 | 83 | Consumer Defensive | |
| Altria Group, Inc. | -0.07 | 0.08 | 0.22 | 81 | Consumer Defensive | |
| Verizon Communications Inc. | -0.06 | 0.10 | 0.20 | 57 | Communication Services | |
| Duke Energy Corporation | -0.05 | 0.08 | 0.19 | 66 | Utilities | |
| Occidental Petroleum Corporation | -0.02 | 0.20 | 0.36 | 62 | Energy |
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