Looking to diversify beyond FGRIX? The mutual funds below have historically moved differently from FGRIX, 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 FGRIX
7 mutual funds have low correlation with FGRIX (below 0.3), 0 of which are negatively correlated. The least correlated is GQG Partners US Quality Dividend Income Fund (GQHPX) (Quality Factor) with a 1Y correlation of 0.04, down from 0.64 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| GQG Partners US Quality Dividend Income Fund | 0.04 | 0.47 | 0.64 | 62 | Quality Factor, Large Cap Value Equities | FGRIX vs GQHPX | |
| Fidelity Select Energy Portfolio | 0.05 | 0.34 | 0.50 | 87 | Energy Equities | FGRIX vs FSENX | |
| Vanguard Short-Term Inflation-Protected Securities... | 0.07 | 0.08 | 0.14 | 91 | Inflation-Protected Bonds | FGRIX vs VTAPX | |
| Fidelity Conservative Income Bond Institutional Cl... | 0.10 | 0.03 | 0.01 | 100 | Ultrashort Bond | FGRIX vs FCNVX | |
| Voya Corporate Leaders Trust Fund | 0.11 | 0.43 | 0.62 | 93 | Large Cap Value Equities | FGRIX vs LEXCX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FGRIX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Occidental Petroleum Corporation (OXY) (Energy) with a 1Y correlation of -0.10, down from 0.34 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Occidental Petroleum Corporation | -0.10 | 0.16 | 0.34 | 70 | Energy | |
| Altria Group, Inc. | -0.08 | 0.08 | 0.21 | 66 | Consumer Defensive | |
| Devon Energy Corporation | -0.07 | 0.22 | 0.41 | 76 | Energy | |
| Duke Energy Corporation | -0.07 | 0.07 | 0.18 | 56 | Utilities | |
| The Coca-Cola Company | -0.07 | 0.09 | 0.27 | 90 | Consumer Defensive |
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