Looking to diversify beyond FBGRX? The mutual funds below have the lowest correlation with FBGRX — 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 FBGRX.
Best Diversifiers for FBGRX
92 mutual funds have low correlation with FBGRX (below 0.3), 3 of which are negatively correlated. The least correlated is Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund (FSTZX) (Inflation-Protected Bonds) with a 1Y correlation of -0.04, roughly unchanged from 0.04 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Series 0-5 Year Inflation-Protected Bond ... | -0.04 | 0.04 | — | 86 | Inflation-Protected Bonds | FBGRX vs FSTZX | |
| Vanguard Short-Term Inflation-Protected Securities... | -0.02 | 0.05 | 0.12 | 89 | Inflation-Protected Bonds | FBGRX vs VTAPX | |
| Fidelity Series Treasury Bill Index Fund | -0.01 | -0.01 | 0.01 | 100 | Ultrashort Bond | FBGRX vs FHQFX | |
| Fidelity Sustainable Low Duration Bond | 0.02 | -0.04 | — | 99 | Ultrashort Bond | FBGRX vs FAPGX | |
| Strategic Advisers Tax-Sensitive Short Duration Fu... | 0.05 | 0.02 | 0.01 | 97 | Municipal Bonds | FBGRX vs FGNSX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FBGRX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FBGRX and solid risk/return profiles. The least correlated is Duke Energy Corporation (DUK) (Utilities) with a 1Y correlation of -0.28, down from -0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Duke Energy Corporation | -0.28 | -0.18 | -0.07 | 62 | Utilities | |
| Verizon Communications Inc. | -0.26 | -0.14 | -0.01 | 63 | Communication Services | |
| Chevron Corporation | -0.25 | -0.04 | 0.13 | 68 | Energy | |
| Chubb Limited | -0.25 | -0.09 | 0.07 | 68 | Financial Services | |
| Exxon Mobil Corporation | -0.25 | -0.07 | 0.08 | 68 | Energy |
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Build a portfolio that complements FBGRX
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