Looking to diversify beyond FBNDX? The mutual funds below have historically moved differently from FBNDX, 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 FBNDX
30 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 -0.34, down from -0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | -0.34 | -0.10 | -0.09 | 88 | Energy Equities | FBNDX vs FSENX | |
| PIMCO Commodity Real Return Strategy Fund | -0.22 | -0.00 | 0.05 | 65 | Commodities | FBNDX vs PCRIX | |
| AQR Long-Short Equity Fund | 0.01 | -0.05 | -0.12 | 80 | Long-Short | FBNDX vs QLEIX | |
| AQR Long-Short Equity Fund Class N | 0.01 | -0.05 | -0.12 | 78 | Long-Short, Actively Managed | FBNDX vs QLENX | |
| Fidelity Floating Rate High Income Fund | 0.06 | 0.09 | 0.13 | 94 | Bank Loan | FBNDX vs FFRHX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FBNDX, 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 ConocoPhillips Company (COP) (Energy) with a 1Y correlation of -0.39, down from -0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| ConocoPhillips Company | -0.39 | -0.16 | -0.13 | 71 | Energy | |
| BP p.l.c. | -0.35 | -0.15 | -0.13 | 77 | Energy | |
| Occidental Petroleum Corporation | -0.33 | -0.13 | -0.11 | 68 | Energy | |
| Exxon Mobil Corporation | -0.31 | -0.11 | -0.10 | 85 | Energy | |
| Devon Energy Corporation | -0.29 | -0.12 | -0.10 | 76 | Energy |
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