Looking to diversify beyond FRA? The mutual funds below have historically moved differently from FRA, 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 FRA
23 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 -0.09, roughly unchanged from -0.01 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Project and Trade Finance Tender ... | -0.09 | -0.06 | -0.01 | 93 | Bank Loan | FRA vs XPTFX | |
| Calamos Aksia Alternative Credit and Income Fund C... | -0.08 | — | — | 99 | Bank Loan | FRA vs CAPIX | |
| BlackRock Global Equity Market Neutral Fund Class ... | 0.11 | 0.08 | 0.04 | 97 | Equity Market Neutral | FRA vs BDMIX | |
| RiverPark Floating Rate CMBS Fund | 0.12 | 0.07 | 0.08 | 100 | Bank Loan | FRA vs RCRIX | |
| BlackRock Global Equity Market Neutral Fund | 0.13 | 0.09 | 0.04 | 97 | Equity Market Neutral | FRA vs BDMAX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FRA, 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 Cohen & Steers Infrastructure Fund, Inc (UTF) (Financial Services) with a 1Y correlation of 0.16, roughly unchanged from 0.26 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cohen & Steers Infrastructure Fund, Inc | 0.16 | 0.20 | 0.26 | 74 | Financial Services | |
| Reaves Utility Income Trust | 0.21 | 0.19 | 0.23 | 55 | Financial Services | |
| JPMorgan Chase & Co. | 0.22 | 0.26 | 0.28 | 71 | Financial Services | |
| Ellington Financial Inc. | 0.24 | 0.27 | 0.32 | 71 | Real Estate | |
| Capital Southwest Corporation | 0.27 | 0.23 | 0.26 | 68 | Financial Services |
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