Looking to diversify beyond FBDIX? The mutual funds below have historically moved differently from FBDIX, 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 FBDIX
2 mutual funds have low correlation with FBDIX (below 0.3), 0 of which are negatively correlated. The least correlated is Franklin Income Fund Advisor Class (FRIAX) (Diversified Portfolio) with a 1Y correlation of 0.25, down from 0.44 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Franklin Income Fund Advisor Class | 0.25 | 0.42 | 0.44 | 93 | Diversified Portfolio | FBDIX vs FRIAX | |
| Fidelity Select Health Care Services Portfolio | 0.30 | 0.30 | 0.41 | 68 | Health & Biotech Equities | FBDIX vs FSHCX | |
| Franklin Income Fund Class A1 | 0.34 | 0.46 | 0.46 | 87 | Diversified Portfolio | FBDIX vs FKINX | |
| Templeton Institutional Fund International Equity ... | 0.39 | 0.49 | 0.51 | 63 | Foreign Large Cap Equities | FBDIX vs TFEQX | |
| Abrdn Healthcare Opportunities Fund | 0.48 | 0.52 | 0.57 | 59 | Health & Biotech Equities | FBDIX vs THQ |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FBDIX, 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 Gilead Sciences, Inc. (GILD) (Healthcare) with a 1Y correlation of 0.35, roughly unchanged from 0.42 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Gilead Sciences, Inc. | 0.35 | 0.38 | 0.42 | 65 | Healthcare |
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