Looking to diversify beyond FBGRX? The mutual funds below have historically moved differently from FBGRX, 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 FBGRX
107 mutual funds have low correlation with FBGRX (below 0.3), 4 of which are negatively correlated. The least correlated is BlackRock Energy Opportunities Fund (BACIX) (Energy Equities) with a 1Y correlation of -0.16, down from 0.20 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BlackRock Energy Opportunities Fund | -0.16 | 0.06 | 0.20 | 82 | Energy Equities | FBGRX vs BACIX | |
| Fidelity SAI Inflation-Focused | -0.15 | 0.01 | 0.11 | 79 | Commodities | FBGRX vs FIFGX | |
| Fidelity Select Energy Portfolio | -0.14 | 0.08 | 0.22 | 87 | Energy Equities | FBGRX vs FSENX | |
| DFA Commodity Strategy Portfolio | -0.06 | 0.06 | 0.12 | 80 | Commodities | FBGRX vs DCMSX | |
| Fidelity Commodity Strategy Fund | 0.01 | 0.09 | 0.14 | 70 | Commodities | FBGRX vs FYHTX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FBGRX, 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 Duke Energy Corporation (DUK) (Utilities) with a 1Y correlation of -0.39, down from -0.08 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Duke Energy Corporation | -0.39 | -0.24 | -0.08 | 56 | Utilities | |
| Altria Group, Inc. | -0.36 | -0.17 | -0.04 | 66 | Consumer Defensive | |
| Chubb Limited | -0.32 | -0.11 | 0.05 | 89 | Financial Services | |
| Verizon Communications Inc. | -0.31 | -0.17 | -0.03 | 66 | Communication Services | |
| The Coca-Cola Company | -0.31 | -0.15 | 0.05 | 90 | Consumer Defensive |
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