Looking to diversify beyond FRIFX? The mutual funds below have the lowest correlation with FRIFX — 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 FRIFX.
Best Diversifiers for FRIFX
12 mutual funds have low correlation with FRIFX (below 0.3), 2 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| TIAA Real Estate Account | -0.30 | — | — | 99 | REIT | FRIFX vs QREARX | |
| Fidelity Series Treasury Bill Index Fund | -0.04 | 0.09 | 0.09 | 100 | Ultrashort Bond | FRIFX vs FHQFX | |
| Fidelity Floating Rate High Income Fund | 0.01 | 0.17 | 0.28 | 93 | Bank Loan | FRIFX vs FFRHX | |
| Fidelity Advisor Semiconductors Fund Class Z | 0.04 | 0.15 | 0.33 | 92 | Technology Equities | FRIFX vs FIKGX | |
| Fidelity Select Semiconductors Portfolio | 0.04 | 0.16 | 0.33 | 92 | Semiconductors, Technology Equities | FRIFX vs FSELX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FRIFX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FRIFX and solid risk/return profiles. The least correlated is Ventas, Inc. (VTR) (Real Estate) with a 1Y correlation of 0.44, down from 0.63 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Ventas, Inc. | 0.44 | 0.57 | 0.63 | 93 | Real Estate | |
| Realty Income Corporation | 0.62 | 0.63 | 0.68 | 74 | Real Estate | |
| Simon Property Group, Inc. | 0.64 | 0.63 | 0.67 | 92 | Real Estate |
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