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
7 mutual funds have low correlation with FGRTX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Select Energy Portfolio (FSENX) (Energy Equities) with a 1Y correlation of 0.01, down from 0.47 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | 0.01 | 0.29 | 0.47 | 62 | Energy Equities | FGRTX vs FSENX | |
| Vanguard Short-Term Inflation-Protected Securities... | 0.07 | 0.08 | 0.13 | 90 | Inflation-Protected Bonds | FGRTX vs VTAPX | |
| Victory INCORE Fund for Income Class I | 0.19 | 0.07 | 0.04 | 76 | Government Bonds | FGRTX vs VFFIX | |
| AQR Alternative Risk Premia Fund Class N | 0.25 | 0.16 | 0.01 | 97 | Multistrategy | FGRTX vs QRPNX | |
| Fidelity Floating Rate High Income Fund | 0.25 | 0.31 | 0.36 | 93 | Bank Loan | FGRTX vs FFRHX |
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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 Duke Energy Corporation (DUK) (Utilities) with a 1Y correlation of -0.22, down from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Duke Energy Corporation | -0.22 | -0.05 | 0.09 | 66 | Utilities | |
| Altria Group, Inc. | -0.20 | -0.02 | 0.14 | 81 | Consumer Defensive | |
| The Coca-Cola Company | -0.18 | 0.00 | 0.20 | 83 | Consumer Defensive | |
| Verizon Communications Inc. | -0.18 | -0.00 | 0.13 | 57 | Communication Services | |
| Chubb Limited | -0.17 | 0.05 | 0.30 | 86 | Financial Services |
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Build a portfolio that complements FGRTX
Add FGRTX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with FGRTX