Looking to diversify beyond FRHIX? The mutual funds below have historically moved differently from FRHIX, 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 FRHIX
1 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 0.27, roughly unchanged from 0.25 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Franklin Income Fund Advisor Class | 0.27 | 0.33 | 0.25 | 93 | Diversified Portfolio | FRHIX vs FRIAX | |
| Franklin Income Fund Class A1 | 0.30 | 0.34 | 0.27 | 87 | Diversified Portfolio | FRHIX vs FKINX | |
| Templeton Institutional Fund International Equity ... | 0.32 | 0.21 | 0.15 | 63 | Foreign Large Cap Equities | FRHIX vs TFEQX | |
| First Eagle Short Duration High Yield Municipal Fu... | 0.62 | — | — | 73 | High Yield Muni | FRHIX vs FDUAX | |
| abrdn Short Duration High Yield Municipal Fund | 0.69 | 0.77 | 0.79 | 82 | High Yield Muni | FRHIX vs AHYMX |
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