Looking to diversify beyond FBMPX? The mutual funds below have historically moved differently from FBMPX, 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 FBMPX
4 mutual funds have low correlation with FBMPX (below 0.3), 1 of which are negatively correlated. The least correlated is Fidelity Select Energy Portfolio (FSENX) (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 |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | -0.16 | 0.08 | 0.20 | 87 | Energy Equities | FBMPX vs FSENX | |
| Fidelity Select Health Care Services Portfolio | 0.20 | 0.16 | 0.31 | 68 | Health & Biotech Equities | FBMPX vs FSHCX | |
| Fidelity Select Pharmaceuticals Portfolio | 0.21 | 0.31 | 0.40 | 90 | Health & Biotech Equities | FBMPX vs FPHAX | |
| AQR Alternative Risk Premia Fund Class N | 0.23 | 0.06 | -0.17 | 98 | Multistrategy | FBMPX vs QRPNX | |
| Gabelli Media Mogul Fund | 0.37 | 0.51 | 0.65 | 78 | Communications Equities | FBMPX vs MOGLX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FBMPX, 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 The Charles Schwab Corporation (SCHW) (Financial Services) with a 1Y correlation of 0.24, down from 0.39 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Charles Schwab Corporation | 0.24 | 0.34 | 0.39 | 54 | Financial Services | |
| Snowflake Inc. | 0.29 | 0.44 | 0.54 | 62 | Technology | |
| First Solar, Inc. | 0.29 | 0.31 | 0.35 | 58 | Technology | |
| CrowdStrike Holdings, Inc. | 0.33 | 0.46 | 0.53 | 80 | Technology | |
| Enphase Energy, Inc. | 0.33 | 0.28 | 0.37 | 55 | Technology |
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