Looking to diversify beyond FCNKX? The mutual funds below have the lowest correlation with FCNKX — 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 FCNKX.
Best Diversifiers for FCNKX
2 mutual funds have low correlation with FCNKX (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares (VTAPX) (Inflation-Protected Bonds) with a 1Y correlation of 0.02, down from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Short-Term Inflation-Protected Securities... | 0.02 | 0.06 | 0.12 | 84 | Inflation-Protected Bonds | FCNKX vs VTAPX | |
| Fidelity Floating Rate High Income Fund | 0.27 | 0.27 | 0.30 | 92 | Bank Loan | FCNKX vs FFRHX | |
| AQR Long-Short Equity Fund | 0.44 | 0.46 | 0.30 | 57 | Long-Short | FCNKX vs QLEIX | |
| DFA U.S. Small Cap Value Portfolio I | 0.46 | 0.53 | 0.63 | 61 | Small Cap Value Equities | FCNKX vs DFSVX | |
| AQR Long-Short Equity Fund Class N | 0.46 | 0.46 | 0.31 | 54 | Long-Short, Actively Managed | FCNKX vs QLENX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FCNKX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FCNKX and solid risk/return profiles. The least correlated is Exxon Mobil Corporation (XOM) (Energy) with a 1Y correlation of -0.23, down from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Exxon Mobil Corporation | -0.23 | -0.04 | 0.11 | 72 | Energy | |
| Chevron Corporation | -0.22 | -0.02 | 0.13 | 70 | Energy | |
| ConocoPhillips Company | -0.20 | 0.01 | 0.14 | 65 | Energy | |
| Altria Group, Inc. | -0.20 | -0.09 | 0.04 | 72 | Consumer Defensive | |
| Duke Energy Corporation | -0.19 | -0.11 | 0.01 | 62 | Utilities |
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