Looking to diversify beyond FKRCX? The mutual funds below have the lowest correlation with FKRCX — 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 FKRCX.
Best Diversifiers for FKRCX
51 mutual funds have low correlation with FKRCX (below 0.3), 0 of which are negatively correlated. The least correlated is Western Asset Short Duration Municipal Income Fund (SHDAX) (Municipal Bonds) with a 1Y correlation of 0.14, roughly unchanged from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Western Asset Short Duration Municipal Income Fund | 0.14 | 0.12 | 0.16 | 78 | Municipal Bonds | FKRCX vs SHDAX | |
| Franklin Pennsylvania Tax-Free Income Fund | 0.15 | 0.14 | 0.17 | 77 | Municipal Bonds | FKRCX vs FRPAX | |
| Western Asset New York Municipals Fund | 0.15 | 0.14 | 0.17 | 80 | Municipal Bonds | FKRCX vs SBNYX | |
| Western Asset Municipal High Income Fund | 0.15 | 0.15 | 0.17 | 81 | High Yield Muni | FKRCX vs STXAX | |
| Western Asset Massachusetts Municipals Fund | 0.16 | 0.16 | 0.17 | 88 | Municipal Bonds | FKRCX vs SLMMX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FKRCX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FKRCX and solid risk/return profiles. The least correlated is Amazon.com, Inc (AMZN) (Consumer Cyclical) with a 1Y correlation of 0.16, roughly unchanged from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Amazon.com, Inc | 0.16 | 0.15 | 0.19 | 54 | Consumer Cyclical | |
| Arista Networks, Inc. | 0.24 | 0.20 | 0.23 | 79 | Technology | |
| Advanced Micro Devices, Inc. | 0.26 | 0.22 | 0.26 | 97 | Technology | |
| Applied Digital Corporation | 0.27 | 0.25 | 0.23 | 89 | Technology |
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