Looking to diversify beyond FMAGX? The mutual funds below have the lowest correlation with FMAGX — 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 FMAGX.
Best Diversifiers for FMAGX
2 mutual funds have low correlation with FMAGX (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares (VTAPX) (Inflation-Protected Bonds) with a 1Y correlation of 0.04, roughly unchanged from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Short-Term Inflation-Protected Securities... | 0.04 | 0.06 | 0.13 | 84 | Inflation-Protected Bonds | FMAGX vs VTAPX | |
| Fidelity Floating Rate High Income Fund | 0.25 | 0.26 | 0.27 | 92 | Bank Loan | FMAGX vs FFRHX | |
| ARK Venture Fund | 0.42 | 0.48 | 0.51 | 99 | Technology Equities | FMAGX vs ARKVX | |
| AQR Long-Short Equity Fund | 0.42 | 0.43 | 0.26 | 57 | Long-Short | FMAGX vs QLEIX | |
| AQR Long-Short Equity Fund Class N | 0.43 | 0.43 | 0.26 | 54 | Long-Short, Actively Managed | FMAGX vs QLENX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FMAGX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FMAGX and solid risk/return profiles. The least correlated is Exxon Mobil Corporation (XOM) (Energy) with a 1Y correlation of -0.21, down from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Exxon Mobil Corporation | -0.21 | -0.05 | 0.08 | 72 | Energy | |
| Altria Group, Inc. | -0.21 | -0.08 | 0.03 | 72 | Consumer Defensive | |
| ConocoPhillips Company | -0.19 | -0.01 | 0.11 | 65 | Energy | |
| Chevron Corporation | -0.18 | -0.01 | 0.12 | 70 | Energy | |
| The Coca-Cola Company | -0.17 | -0.02 | 0.16 | 74 | Consumer Defensive |
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