Looking to diversify beyond FBMPX? The mutual funds below have the lowest correlation with FBMPX — 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 FBMPX.
Best Diversifiers for FBMPX
3 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 -0.13, down from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | -0.13 | 0.10 | 0.21 | 62 | Energy Equities | FBMPX vs FSENX | |
| Fidelity Select Pharmaceuticals Portfolio | 0.22 | 0.31 | 0.41 | 80 | Health & Biotech Equities | FBMPX vs FPHAX | |
| AQR Alternative Risk Premia Fund Class N | 0.25 | 0.05 | -0.17 | 97 | Multistrategy | FBMPX vs QRPNX | |
| Gabelli Media Mogul Fund | 0.40 | 0.52 | 0.66 | 54 | Communications Equities | FBMPX vs MOGLX | |
| Rydex Telecommunications Fund | 0.49 | 0.54 | 0.67 | 84 | Communications Equities | FBMPX vs RYMIX |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FBMPX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FBMPX and solid risk/return profiles. The least correlated is The Charles Schwab Corporation (SCHW) (Financial Services) with a 1Y correlation of 0.25, down from 0.40 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Charles Schwab Corporation | 0.25 | 0.34 | 0.40 | 59 | Financial Services | |
| First Solar, Inc. | 0.28 | 0.31 | 0.35 | 66 | Technology | |
| Snowflake Inc. | 0.30 | 0.45 | 0.54 | 60 | Technology | |
| CrowdStrike Holdings, Inc. | 0.31 | 0.41 | 0.49 | 77 | Technology | |
| Astera Labs, Inc. | 0.35 | — | — | 92 | Technology |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements FBMPX
Add FBMPX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with FBMPX