Looking to diversify beyond FRA? The mutual funds below have the lowest correlation with FRA — 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 FRA.
Best Diversifiers for FRA
17 mutual funds have low correlation with FRA (below 0.3), 2 of which are negatively correlated. The least correlated is Federated Hermes Project and Trade Finance Tender Fund (XPTFX) (Bank Loan) with a 1Y correlation of -0.05, roughly unchanged from -0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Project and Trade Finance Tender ... | -0.05 | -0.05 | -0.01 | 84 | Bank Loan | FRA vs XPTFX | |
| Calamos Aksia Alternative Credit and Income Fund C... | -0.05 | — | — | 98 | Bank Loan | FRA vs CAPIX | |
| Calvert Floating-Rate Advantage Fund | 0.07 | 0.17 | 0.24 | 67 | Bank Loan | FRA vs CFOIX | |
| RiverPark Floating Rate CMBS Fund | 0.08 | 0.06 | 0.08 | 100 | Bank Loan | FRA vs RCRIX | |
| BlackRock Global Long/Short Equity Fund Class I | 0.09 | 0.08 | 0.03 | 95 | Long-Short | FRA vs BDMIX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FRA, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FRA and solid risk/return profiles. The least correlated is Cohen & Steers Infrastructure Fund, Inc (UTF) (Financial Services) with a 1Y correlation of 0.19, roughly unchanged from 0.26 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cohen & Steers Infrastructure Fund, Inc | 0.19 | 0.20 | 0.26 | 69 | Financial Services | |
| JPMorgan Chase & Co. | 0.20 | 0.26 | 0.28 | 69 | Financial Services | |
| Ellington Financial Inc. | 0.22 | 0.26 | 0.32 | 66 | Real Estate | |
| Reaves Utility Income Trust | 0.23 | 0.18 | 0.23 | 81 | Financial Services | |
| AGNC Investment Corp. | 0.28 | 0.26 | 0.31 | 76 | Real Estate |
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Build a portfolio that complements FRA
Add FRA to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with FRA