Looking to diversify beyond FBALX? The mutual funds below have historically moved differently from FBALX, 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 FBALX
17 mutual funds have low correlation with FBALX (below 0.3), 4 of which are negatively correlated. The least correlated is SEI Institutional Managed Trust Multi-Asset Inflation Managed Fund (SIFAX) (Diversified Portfolio) with a 1Y correlation of -0.31, down from 0.05 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Multi-Asset Inflat... | -0.31 | -0.11 | 0.05 | 83 | Diversified Portfolio | FBALX vs SIFAX | |
| Vanguard Energy Index Fund Admiral Shares | -0.15 | 0.11 | 0.26 | 72 | Energy Equities | FBALX vs VENAX | |
| Fidelity Select Energy Portfolio | -0.11 | 0.15 | 0.29 | 87 | Energy Equities | FBALX vs FSENX | |
| Fairholme Focused Income Fund | -0.03 | 0.25 | 0.46 | 73 | High Yield Bonds | FBALX vs FOCIX | |
| MH Elite Small Cap Fund of Funds Fund | 0.03 | 0.14 | 0.49 | 66 | Diversified Portfolio | FBALX vs MHELX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FBALX, 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 Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.28, down from 0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.28 | -0.04 | 0.09 | 66 | Consumer Defensive | |
| Chevron Corporation | -0.27 | 0.00 | 0.17 | 80 | Energy | |
| Occidental Petroleum Corporation | -0.24 | 0.03 | 0.20 | 70 | Energy | |
| Exxon Mobil Corporation | -0.24 | -0.01 | 0.15 | 84 | Energy | |
| Chubb Limited | -0.23 | 0.03 | 0.22 | 89 | Financial Services |
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