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
3 mutual funds have low correlation with FCNKX (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 -0.10, down from 0.28 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | -0.10 | 0.14 | 0.28 | 79 | Energy Equities | FCNKX vs FSENX | |
| Vanguard Short-Term Inflation-Protected Securities... | -0.04 | 0.05 | 0.12 | 94 | Inflation-Protected Bonds | FCNKX vs VTAPX | |
| Fidelity Floating Rate High Income Fund | 0.25 | 0.25 | 0.30 | 92 | High Yield Bonds | FCNKX vs FFRHX | |
| Emerald Insights Fund | 0.38 | 0.78 | 0.85 | 99 | Large Cap Growth Equities | FCNKX vs EFCNX | |
| Vanguard Wellesley Income Fund Admiral Shares | 0.43 | 0.44 | 0.53 | 58 | Diversified Portfolio | FCNKX vs VWIAX |
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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 -0.22, down from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Exxon Mobil Corporation | -0.22 | -0.03 | 0.12 | 85 | Energy | |
| Altria Group, Inc. | -0.21 | -0.08 | 0.04 | 69 | Consumer Defensive | |
| Duke Energy Corporation | -0.21 | -0.12 | 0.02 | 53 | Utilities | |
| Chevron Corporation | -0.21 | -0.01 | 0.14 | 83 | Energy | |
| ConocoPhillips Company | -0.21 | 0.01 | 0.14 | 76 | Energy |
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