Looking to diversify beyond FCAGX? The mutual funds below have historically moved differently from FCAGX, 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 FCAGX
1 mutual funds have low correlation with FCAGX (below 0.3), 0 of which are negatively correlated. The least correlated is T. Rowe Price Global Multi-Sector Bond Fund (PRSNX) (Global Bonds) with a 1Y correlation of 0.29, roughly unchanged from 0.20 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| T. Rowe Price Global Multi-Sector Bond Fund | 0.29 | 0.22 | 0.20 | 75 | Global Bonds | FCAGX vs PRSNX | |
| T. Rowe Price Floating Rate Fund - Investor Class | 0.33 | 0.28 | 0.28 | 90 | High Yield Bonds | FCAGX vs PRFRX | |
| Fidelity International Index Fund | 0.69 | 0.66 | 0.70 | 70 | Foreign Large Cap Equities | FCAGX vs FSPSX | |
| Putnam Large Cap Value Fund | 0.70 | 0.76 | 0.78 | 92 | Large Cap Value Equities | FCAGX vs PEYAX | |
| Fidelity Select Semiconductors Portfolio | 0.73 | 0.69 | 0.74 | 80 | Semiconductors, Technology Equities | FCAGX vs FSELX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FCAGX, 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 Bank of America Corporation (BAC) (Financial Services) with a 1Y correlation of 0.41, down from 0.54 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Bank of America Corporation | 0.41 | 0.49 | 0.54 | 81 | Financial Services | |
| U.S. Bancorp | 0.42 | 0.52 | 0.54 | 88 | Financial Services | |
| ON Semiconductor Corporation | 0.59 | 0.58 | 0.64 | 68 | Technology |
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