Looking to diversify beyond FBKWX? The mutual funds below have historically moved differently from FBKWX, 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 FBKWX
6 mutual funds have low correlation with FBKWX (below 0.3), 1 of which are negatively correlated. The least correlated is Cliffwater Enhanced Lending Fund (CELFX) (Nontraditional Bonds) with a 1Y correlation of -0.00, roughly unchanged from 0.04 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Cliffwater Enhanced Lending Fund | -0.00 | 0.03 | 0.04 | 100 | Nontraditional Bonds | FBKWX vs CELFX | |
| Fidelity Select Semiconductors Portfolio | 0.11 | 0.07 | 0.10 | 80 | Semiconductors, Technology Equities | FBKWX vs FSELX | |
| JPMorgan Strategic Income Opportunities Fund Class... | 0.20 | -0.20 | -0.26 | 99 | Total Bond Market | FBKWX vs JSOSX | |
| Hundredfold Select Alternative Fund Investor Class | 0.28 | 0.35 | 0.30 | 58 | Tactical Allocation | FBKWX vs HFSAX | |
| Fidelity Advisor Stock Selector All Cap Fund Class... | 0.29 | 0.21 | 0.18 | 80 | Large Cap Growth Equities | FBKWX vs FZAPX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FBKWX, 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 Apple Inc (AAPL) (Technology) with a 1Y correlation of 0.19, roughly unchanged from 0.15 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Apple Inc | 0.19 | 0.16 | 0.15 | 89 | Technology |
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