Looking to diversify beyond FRIRX? The mutual funds below have historically moved differently from FRIRX, 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 FRIRX
5 mutual funds have low correlation with FRIRX (below 0.3), 1 of which are negatively correlated.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| TIAA Real Estate Account | -0.30 | — | — | 99 | REIT | FRIRX vs QREARX | |
| Fidelity Select Semiconductors Portfolio | 0.03 | 0.14 | 0.32 | 80 | Semiconductors, Technology Equities | FRIRX vs FSELX | |
| Redwood Real Estate Income Fund | 0.04 | — | — | 100 | REIT | FRIRX vs CREMX | |
| Fidelity 500 Index Fund | 0.28 | 0.39 | 0.56 | 64 | S&P 500 | FRIRX vs FXAIX | |
| Fidelity ZERO Large Cap Index Fund | 0.29 | 0.39 | 0.56 | 59 | Large Cap Blend Equities | FRIRX vs FNILX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FRIRX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is AbbVie Inc. (ABBV) (Healthcare) with a 1Y correlation of 0.30, roughly unchanged from 0.28 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AbbVie Inc. | 0.30 | 0.33 | 0.28 | 81 | Healthcare | |
| Realty Income Corporation | 0.62 | 0.64 | 0.68 | 77 | Real Estate |
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