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 -0.11, down from 0.23 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | -0.11 | 0.12 | 0.23 | 77 | Energy Equities | FBMPX vs FSENX | |
| AQR Alternative Risk Premia Fund Class N | 0.24 | 0.04 | -0.17 | 97 | Multistrategy | FBMPX vs QRPNX | |
| Fidelity Select Pharmaceuticals Portfolio | 0.26 | 0.33 | 0.42 | 55 | Health & Biotech Equities | FBMPX vs FPHAX | |
| Gabelli Media Mogul Fund | 0.45 | 0.53 | 0.67 | 57 | Communications Equities | FBMPX vs MOGLX | |
| Fidelity Value Fund | 0.48 | 0.52 | 0.62 | 60 | Mid Cap Value Equities | FBMPX vs FDVLX |
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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 Snowflake Inc. (SNOW) (Technology) with a 1Y correlation of 0.28, down from 0.53 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Snowflake Inc. | 0.28 | 0.45 | 0.53 | 51 | Technology | |
| First Solar, Inc. | 0.28 | 0.32 | 0.36 | 81 | Technology | |
| CrowdStrike Holdings, Inc. | 0.29 | 0.46 | 0.53 | 72 | Technology | |
| Enphase Energy, Inc. | 0.29 | 0.28 | 0.37 | 66 | Technology | |
| Astera Labs, Inc. | 0.36 | 0.38 | 0.38 | 89 | Technology |
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Build a portfolio that complements FBMPX
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