Looking to diversify beyond FGSAX? The mutual funds below have historically moved differently from FGSAX, 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 FGSAX
24 mutual funds have low correlation with FGSAX (below 0.3), 2 of which are negatively correlated. The least correlated is Federated Hermes Strategic Value Dividend Fund (SVAIX) (Large Cap Value Equities) with a 1Y correlation of -0.02, down from 0.36 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Strategic Value Dividend Fund | -0.02 | 0.20 | 0.36 | 95 | Large Cap Value Equities | FGSAX vs SVAIX | |
| Federated Hermes Project and Trade Finance Tender ... | -0.01 | 0.09 | 0.05 | 92 | Bank Loan | FGSAX vs XPTFX | |
| American Century Mid Cap Value R6 | 0.07 | 0.32 | 0.52 | 68 | Mid Cap Value Equities | FGSAX vs AMDVX | |
| Federated Hermes International Strategic Value Div... | 0.12 | 0.24 | 0.39 | 88 | Foreign Large Cap Equities | FGSAX vs IVFIX | |
| Federated Hermes Conservative Municipal Microshort... | 0.14 | 0.09 | 0.07 | 99 | Municipal Bonds | FGSAX vs FHMIX |
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