Looking to diversify beyond FRGAX? The mutual funds below have historically moved differently from FRGAX, 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 FRGAX
4 mutual funds have low correlation with FRGAX (below 0.3), 1 of which are negatively correlated. The least correlated is SEI Institutional Managed Trust Multi-Asset Inflation Managed Fund (SIFAX) (Diversified Portfolio) with a 1Y correlation of -0.26, down from -0.05 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Multi-Asset Inflat... | -0.26 | -0.05 | — | 77 | Diversified Portfolio | FRGAX vs SIFAX | |
| MH Elite Small Cap Fund of Funds Fund | 0.01 | 0.13 | — | 66 | Diversified Portfolio | FRGAX vs MHELX | |
| Hennessy Total Return Fund | 0.14 | 0.42 | — | 68 | Diversified Portfolio | FRGAX vs HDOGX | |
| Hennessy Balanced Fund | 0.19 | 0.46 | — | 89 | Diversified Portfolio | FRGAX vs HBFBX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.34 | 0.55 | 0.59 | 87 | Diversified Portfolio | FRGAX vs FCSRX |
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