Looking to diversify beyond FSAGX? The mutual funds below have the lowest correlation with FSAGX — 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 FSAGX.
Best Diversifiers for FSAGX
15 mutual funds have low correlation with FSAGX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Floating Rate High Income Fund (FFRHX) (Bank Loan) with a 1Y correlation of 0.09, roughly unchanged from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Floating Rate High Income Fund | 0.09 | 0.08 | 0.15 | 92 | Bank Loan | FSAGX vs FFRHX | |
| Vanguard Short-Term Inflation-Protected Securities... | 0.12 | 0.23 | 0.32 | 84 | Inflation-Protected Bonds | FSAGX vs VTAPX | |
| AQR Long-Short Equity Fund Class N | 0.25 | 0.14 | 0.14 | 54 | Long-Short, Actively Managed | FSAGX vs QLENX | |
| AQR Long-Short Equity Fund | 0.25 | 0.14 | 0.14 | 57 | Long-Short | FSAGX vs QLEIX | |
| Fidelity New Markets Income Fund | 0.27 | 0.24 | 0.26 | 94 | Emerging Markets Bonds | FSAGX vs FNMIX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FSAGX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FSAGX and solid risk/return profiles. The least correlated is Enterprise Products Partners L.P. (EPD) (Energy) with a 1Y correlation of -0.08, down from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Enterprise Products Partners L.P. | -0.08 | 0.12 | 0.22 | 85 | Energy | |
| ConocoPhillips Company | -0.06 | 0.05 | 0.16 | 65 | Energy | |
| Exxon Mobil Corporation | -0.05 | 0.07 | 0.18 | 72 | Energy | |
| Altria Group, Inc. | -0.04 | 0.07 | 0.13 | 72 | Consumer Defensive | |
| Energy Transfer LP | -0.03 | 0.13 | 0.20 | 72 | Energy |
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Build a portfolio that complements FSAGX
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