Looking to diversify beyond FIGFX? The mutual funds below have historically moved differently from FIGFX, 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 FIGFX
1 mutual funds have low correlation with FIGFX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Floating Rate High Income Fund (FFRHX) (Bank Loan) with a 1Y correlation of 0.17, down from 0.31 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Floating Rate High Income Fund | 0.17 | 0.24 | 0.31 | 95 | Bank Loan | FIGFX vs FFRHX | |
| Federated Hermes International Strategic Value Div... | 0.33 | 0.44 | 0.58 | 88 | Foreign Large Cap Equities | FIGFX vs IVFIX | |
| Fidelity Real Estate Income Fund | 0.37 | 0.44 | 0.56 | 78 | REIT | FIGFX vs FRIFX | |
| Goldman Sachs GQG Partners International Opportuni... | 0.38 | 0.66 | 0.73 | 61 | Foreign Large Cap Equities | FIGFX vs GSINX | |
| Goldman Sachs GQG Partners International Opportuni... | 0.38 | 0.66 | 0.73 | 61 | Foreign Large Cap Equities | FIGFX vs GSIMX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FIGFX, 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 Berkshire Hathaway Inc. (BRK-B) (Financial Services) with a 1Y correlation of 0.02, down from 0.41 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Berkshire Hathaway Inc. | 0.02 | 0.27 | 0.41 | 61 | Financial Services |
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