Looking to diversify beyond FGRMX? The mutual funds below have historically moved differently from FGRMX, 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 FGRMX
4 mutual funds have low correlation with FGRMX (below 0.3), 0 of which are negatively correlated. The least correlated is Fairholme Focused Income Fund (FOCIX) (High Yield Bonds) with a 1Y correlation of 0.00, down from 0.32 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fairholme Focused Income Fund | 0.00 | 0.21 | 0.32 | 73 | High Yield Bonds | FGRMX vs FOCIX | |
| Cliffwater Corporate Lending Fund Class I Shares | 0.08 | 0.07 | 0.11 | 100 | Bank Loan, High Yield Bonds | FGRMX vs CCLFX | |
| Pioneer ILS Interval Fund | 0.10 | 0.08 | 0.06 | 100 | High Yield Bonds | FGRMX vs XILSX | |
| RiverPark Short Term High Yield Fund | 0.26 | 0.24 | 0.28 | 100 | High Yield Bonds | FGRMX vs RPHIX | |
| T. Rowe Price Floating Rate Fund - Investor Class | 0.44 | 0.46 | 0.52 | 90 | High Yield Bonds | FGRMX vs PRFRX |
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