Looking to diversify beyond FKGRX? The mutual funds below have historically moved differently from FKGRX, 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 FKGRX
44 mutual funds have low correlation with FKGRX (below 0.3), 0 of which are negatively correlated. The least correlated is Franklin Virginia Tax Free Income Fund (FRVAX) (Municipal Bonds) with a 1Y correlation of 0.16, roughly unchanged from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Franklin Virginia Tax Free Income Fund | 0.16 | 0.13 | 0.13 | 70 | Municipal Bonds | FKGRX vs FRVAX | |
| Franklin Pennsylvania Tax-Free Income Fund | 0.17 | 0.13 | 0.13 | 56 | Municipal Bonds | FKGRX vs FRPAX | |
| Western Asset Pennsylvania Municipals Fund | 0.17 | 0.14 | 0.13 | 78 | Municipal Bonds | FKGRX vs SBPAX | |
| Franklin Missouri Tax Free Income Fund | 0.17 | 0.14 | 0.13 | 76 | Municipal Bonds | FKGRX vs FRMOX | |
| Western Asset Intermediate Maturity CA Municipals ... | 0.18 | 0.13 | 0.12 | 70 | Municipal Bonds | FKGRX vs ITCAX |
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