Looking to diversify beyond FRHIX? The mutual funds below have the lowest correlation with FRHIX — 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 FRHIX.
Best Diversifiers for FRHIX
2 mutual funds have low correlation with FRHIX (below 0.3), 0 of which are negatively correlated. The least correlated is Franklin Income Fund Advisor Class (FRIAX) (Diversified Portfolio) with a 1Y correlation of 0.23, roughly unchanged from 0.25 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Franklin Income Fund Advisor Class | 0.23 | 0.33 | 0.25 | 89 | Diversified Portfolio | FRHIX vs FRIAX | |
| Franklin Income Fund Class A1 | 0.24 | 0.34 | 0.26 | 84 | Diversified Portfolio | FRHIX vs FKINX | |
| Russell Investments Tax-Exempt High Yield Bond Fun... | 0.66 | 0.81 | 0.85 | 68 | High Yield Muni | FRHIX vs RTHAX | |
| abrdn Short Duration High Yield Municipal Fund | 0.69 | 0.77 | 0.79 | 57 | High Yield Muni | FRHIX vs AHYMX | |
| Nuveen Short Duration High Yield Municipal Bond Fu... | 0.70 | 0.74 | 0.73 | 65 | High Yield Muni | FRHIX vs NVHIX |
See all 36 diversifiers for FRHIX
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