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
59 mutual funds have low correlation with FKRCX (below 0.3), 0 of which are negatively correlated. The least correlated is Nationwide Amundi Strategic Income Fund (NWXHX) (Multisector Bonds) with a 1Y correlation of 0.10, roughly unchanged from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Nationwide Amundi Strategic Income Fund | 0.10 | 0.13 | 0.07 | 99 | Multisector Bonds | FKRCX vs NWXHX | |
| Franklin Pennsylvania Tax-Free Income Fund | 0.12 | 0.13 | 0.16 | 64 | Municipal Bonds | FKRCX vs FRPAX | |
| Western Asset New York Municipals Fund | 0.13 | 0.13 | 0.16 | 70 | Municipal Bonds | FKRCX vs SBNYX | |
| Western Asset Massachusetts Municipals Fund | 0.15 | 0.15 | 0.17 | 75 | Municipal Bonds | FKRCX vs SLMMX | |
| Franklin Virginia Tax Free Income Fund | 0.15 | 0.14 | 0.16 | 70 | Municipal Bonds | FKRCX vs FRVAX |
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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 0.13, roughly unchanged from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Amazon.com, Inc | 0.13 | 0.14 | 0.18 | 60 | Consumer Cyclical | |
| Advanced Micro Devices, Inc. | 0.20 | 0.22 | 0.26 | 98 | Technology | |
| Arista Networks, Inc. | 0.24 | 0.20 | 0.22 | 79 | Technology | |
| Applied Digital Corporation | 0.25 | 0.25 | 0.22 | 92 | Financial Services |
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