Looking to diversify beyond FGRTX? The mutual funds below have the lowest correlation with FGRTX — 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 FGRTX.
Best Diversifiers for FGRTX
6 mutual funds have low correlation with FGRTX (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 0.05, roughly unchanged from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Short-Term Inflation-Protected Securities... | 0.05 | 0.07 | 0.13 | 84 | Inflation-Protected Bonds | FGRTX vs VTAPX | |
| AQR Alternative Risk Premia Fund Class N | 0.21 | 0.15 | 0.01 | 96 | Multistrategy | FGRTX vs QRPNX | |
| Victory INCORE Fund for Income Class I | 0.23 | 0.08 | 0.04 | 62 | Government Bonds | FGRTX vs VFFIX | |
| Fidelity Floating Rate High Income Fund | 0.27 | 0.31 | 0.36 | 92 | Bank Loan | FGRTX vs FFRHX | |
| Fidelity Strategic Real Return Fund | 0.27 | 0.48 | 0.59 | 87 | Diversified Portfolio | FGRTX vs FSRRX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FGRTX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FGRTX and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.18, down from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.18 | -0.01 | 0.15 | 72 | Consumer Defensive | |
| The Coca-Cola Company | -0.15 | 0.03 | 0.19 | 74 | Consumer Defensive | |
| Duke Energy Corporation | -0.15 | -0.02 | 0.09 | 62 | Utilities | |
| Verizon Communications Inc. | -0.14 | 0.01 | 0.14 | 66 | Communication Services | |
| PepsiCo, Inc. | -0.12 | 0.04 | 0.17 | 61 | Consumer Defensive |
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