Looking to diversify beyond FKRCX? The mutual funds below have historically moved differently from FKRCX, 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 FKRCX
55 mutual funds have low correlation with FKRCX (below 0.3), 0 of which are negatively correlated. The least correlated is Franklin Pennsylvania Tax-Free Income Fund (FRPAX) (Municipal Bonds) with a 1Y correlation of 0.11, roughly unchanged from 0.17 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Franklin Pennsylvania Tax-Free Income Fund | 0.11 | 0.13 | 0.17 | 67 | Municipal Bonds | FKRCX vs FRPAX | |
| Western Asset New York Municipals Fund | 0.12 | 0.13 | 0.17 | 67 | Municipal Bonds | FKRCX vs SBNYX | |
| Franklin Virginia Tax Free Income Fund | 0.13 | 0.14 | 0.17 | 79 | Municipal Bonds | FKRCX vs FRVAX | |
| Franklin NJ Tax Free Income Adv | 0.13 | 0.14 | 0.18 | 76 | Municipal Bonds | FKRCX vs FNJZX | |
| Western Asset Massachusetts Municipals Fund | 0.13 | 0.15 | 0.17 | 75 | Municipal Bonds | FKRCX vs SLMMX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FKRCX, 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 0.03, down from 0.18 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Berkshire Hathaway Inc. | 0.03 | 0.08 | 0.18 | 61 | Financial Services | |
| Amazon.com, Inc | 0.17 | 0.14 | 0.19 | 72 | Consumer Cyclical | |
| Alphabet Inc. Class A | 0.22 | 0.17 | 0.21 | 96 | Communication Services | |
| Arista Networks, Inc. | 0.28 | 0.20 | 0.23 | 75 | Technology | |
| Applied Digital Corporation | 0.32 | 0.26 | 0.24 | 82 | Technology |
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