Looking to diversify beyond FRGAX? The mutual funds below have the lowest correlation with FRGAX — 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 FRGAX.
Best Diversifiers for FRGAX
2 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 -0.19, down from 0.01 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Multi-Asset Inflat... | -0.19 | 0.01 | — | 76 | Diversified Portfolio | FRGAX vs SIFAX | |
| MH Elite Small Cap Fund of Funds Fund | 0.04 | 0.19 | — | 69 | Diversified Portfolio | FRGAX vs MHELX | |
| T. Rowe Price Floating Rate Fund | 0.31 | 0.31 | — | 95 | High Yield Bonds | FRGAX vs PRFRX | |
| Federated Hermes Capital Income Fund | 0.32 | 0.62 | — | 84 | Diversified Portfolio | FRGAX vs CAPAX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.34 | 0.57 | — | 95 | Diversified Portfolio | FRGAX vs FCSRX |
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