Looking to diversify beyond FBNDX? The mutual funds below have the lowest correlation with FBNDX — 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 FBNDX.
Best Diversifiers for FBNDX
81 mutual funds have low correlation with FBNDX (below 0.3), 2 of which are negatively correlated. The least correlated is Fidelity Select Energy Portfolio (FSENX) (Energy Equities) with a 1Y correlation of -0.26, down from -0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | -0.26 | -0.06 | -0.10 | 79 | Energy Equities | FBNDX vs FSENX | |
| PIMCO Commodity Real Return Strategy Fund | -0.18 | 0.04 | 0.06 | 75 | Commodities | FBNDX vs PCRIX | |
| AQR Long-Short Equity N | 0.03 | -0.06 | -0.12 | 51 | Long-Short | FBNDX vs QLENX | |
| AQR Long-Short Equity Fund | 0.03 | -0.06 | -0.12 | 53 | Long-Short | FBNDX vs QLEIX | |
| Fidelity Select Technology Portfolio | 0.08 | 0.09 | 0.10 | 94 | Technology Equities | FBNDX vs FSPTX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FBNDX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FBNDX and solid risk/return profiles. The least correlated is ConocoPhillips Company (COP) (Energy) with a 1Y correlation of -0.25, down from -0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| ConocoPhillips Company | -0.25 | -0.11 | -0.12 | 76 | Energy | |
| Exxon Mobil Corporation | -0.23 | -0.07 | -0.10 | 85 | Energy | |
| BP p.l.c. | -0.22 | -0.09 | -0.12 | 87 | Energy | |
| Chevron Corporation | -0.22 | -0.07 | -0.11 | 83 | Energy | |
| Energy Transfer LP | -0.19 | -0.03 | -0.06 | 69 | Energy |
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