Looking to diversify beyond FCNVX? The mutual funds below have the lowest correlation with FCNVX — 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 FCNVX.
Best Diversifiers for FCNVX
50 mutual funds have low correlation with FCNVX (below 0.3), 4 of which are negatively correlated. The least correlated is Invesco Balanced-Risk Commodity Strategy Fund Class A (BRCAX) (Commodities) with a 1Y correlation of -0.07, roughly unchanged from -0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco Balanced-Risk Commodity Strategy Fund Clas... | -0.07 | -0.09 | -0.05 | 69 | Commodities | FCNVX vs BRCAX | |
| SEI Institutional Investments Trust Opportunistic ... | -0.05 | 0.05 | 0.09 | 99 | Ultrashort Bond | FCNVX vs ENIAX | |
| Tactical Multi-Purpose Fund | -0.02 | 0.02 | 0.00 | 100 | Ultrashort Bond | FCNVX vs TMPFX | |
| AlphaSimplex Managed Futures Strategy Fund Class Y | -0.02 | -0.07 | -0.12 | 55 | Systematic Trend | FCNVX vs ASFYX | |
| CrossingBridge Ultra-Short Duration Fund | 0.01 | 0.07 | 0.08 | 99 | Ultrashort Bond | FCNVX vs CBUDX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FCNVX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FCNVX and solid risk/return profiles. The least correlated is The Coca-Cola Company (KO) (Consumer Defensive) with a 1Y correlation of -0.04, roughly unchanged from -0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Coca-Cola Company | -0.04 | -0.03 | -0.04 | 84 | Consumer Defensive | |
| Realty Income Corporation | 0.04 | 0.09 | 0.06 | 78 | Real Estate | |
| Sprott Physical Gold Trust | 0.14 | 0.07 | 0.08 | 60 | Financial Services |
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