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
6 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 0.01, down 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... | 0.01 | 0.08 | 0.14 | 94 | Inflation-Protected Bonds | FGRIX vs VTAPX | |
| Fidelity Conservative Income Bond Institutional Cl... | 0.05 | 0.03 | 0.01 | 99 | Total Bond Market | FGRIX vs FCNVX | |
| Fidelity Select Energy Portfolio | 0.13 | 0.41 | 0.54 | 78 | Energy Equities | FGRIX vs FSENX | |
| Voya Corporate Leaders Trust Fund | 0.19 | 0.48 | 0.65 | 52 | Large Cap Value Equities | FGRIX vs LEXCX | |
| Federated Hermes MDT All Cap Core Fund | 0.21 | 0.57 | 0.74 | 60 | Large Cap Blend Equities | FGRIX vs QIACX |
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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 Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.04, down from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.04 | 0.12 | 0.24 | 67 | Consumer Defensive | |
| Verizon Communications Inc. | 0.01 | 0.12 | 0.22 | 62 | Communication Services | |
| The Coca-Cola Company | 0.01 | 0.12 | 0.29 | 63 | Consumer Defensive | |
| Duke Energy Corporation | 0.04 | 0.11 | 0.18 | 52 | Utilities | |
| Energy Transfer LP | 0.04 | 0.33 | 0.44 | 73 | Energy |
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