Looking to diversify beyond FRIRX? The mutual funds below have the lowest correlation with FRIRX — 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 FRIRX.
Best Diversifiers for FRIRX
4 mutual funds have low correlation with FRIRX (below 0.3), 1 of which are negatively correlated. The least correlated is TIAA Real Estate Account (QREARX) (REIT) with a 1Y correlation of -0.27, roughly unchanged from -0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| TIAA Real Estate Account | -0.27 | -0.20 | -0.20 | 98 | REIT | FRIRX vs QREARX | |
| Redwood Real Estate Income Fund | 0.01 | — | — | 100 | REIT | FRIRX vs CREMX | |
| Fidelity Select Semiconductors Portfolio | 0.14 | 0.18 | 0.35 | 97 | Semiconductors, Technology Equities | FRIRX vs FSELX | |
| Fidelity Blue Chip Growth Fund | 0.14 | 0.24 | 0.43 | 75 | Large Cap Growth Equities | FRIRX vs FBGRX | |
| Fidelity ZERO Large Cap Index Fund | 0.32 | 0.41 | 0.57 | 71 | Large Cap Blend Equities | FRIRX vs FNILX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FRIRX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FRIRX and solid risk/return profiles. The least correlated is AbbVie Inc. (ABBV) (Healthcare) with a 1Y correlation of 0.28, roughly unchanged from 0.27 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AbbVie Inc. | 0.28 | 0.29 | 0.27 | 62 | Healthcare |
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