Looking to diversify beyond FRIAX? The mutual funds below have the lowest correlation with FRIAX — 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 FRIAX.
Best Diversifiers for FRIAX
49 mutual funds have low correlation with FRIAX (below 0.3), 0 of which are negatively correlated. The least correlated is MH Elite Small Cap Fund of Funds Fund (MHELX) (Diversified Portfolio) with a 1Y correlation of 0.05, down from 0.44 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MH Elite Small Cap Fund of Funds Fund | 0.05 | 0.17 | 0.44 | 67 | Diversified Portfolio | FRIAX vs MHELX | |
| Franklin Missouri Tax Free Income Fund | 0.17 | 0.30 | 0.22 | 83 | Municipal Bonds | FRIAX vs FRMOX | |
| Western Asset Short Duration Municipal Income Fund | 0.17 | 0.25 | 0.19 | 75 | Municipal Bonds | FRIAX vs SHDAX | |
| Western Asset Intermediate Maturity CA Municipals ... | 0.18 | 0.33 | 0.23 | 77 | Municipal Bonds | FRIAX vs ITCAX | |
| Western Asset Oregon Municipals Fund | 0.18 | 0.31 | 0.22 | 74 | Municipal Bonds | FRIAX vs SHORX |
See all 129 diversifiers for FRIAX
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Diversification Analysis
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