Looking to diversify beyond FRSGX? The mutual funds below have historically moved differently from FRSGX, 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 FRSGX
3 mutual funds have low correlation with FRSGX (below 0.3), 0 of which are negatively correlated. The least correlated is MFS California Municipal Bond Fund (MCFTX) (Municipal Bonds) with a 1Y correlation of 0.20, roughly unchanged from 0.15 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MFS California Municipal Bond Fund | 0.20 | 0.16 | 0.15 | 75 | Municipal Bonds | FRSGX vs MCFTX | |
| American Funds Tax-Exempt Fund of California | 0.24 | 0.15 | 0.14 | 73 | Municipal Bonds | FRSGX vs TAFTX | |
| Franklin California Tax Free Income Fund | 0.25 | 0.15 | 0.13 | 75 | Municipal Bonds | FRSGX vs FKTFX | |
| Franklin Income Fund Advisor Class | 0.42 | 0.47 | 0.56 | 93 | Diversified Portfolio | FRSGX vs FRIAX | |
| Franklin Income Fund Class A1 | 0.48 | 0.52 | 0.57 | 87 | Diversified Portfolio | FRSGX vs FKINX |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FRSGX, 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 Visa Inc. (V) (Financial Services) with a 1Y correlation of 0.22, down from 0.49 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Visa Inc. | 0.22 | 0.38 | 0.49 | 53 | Financial Services |
Build a portfolio that complements FRSGX
Add FRSGX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with FRSGX