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
23 mutual funds have low correlation with FCNVX (below 0.3), 1 of which are negatively correlated. The least correlated is Fidelity Select Semiconductors Portfolio (FSELX) (Semiconductors) with a 1Y correlation of -0.00, roughly unchanged from -0.00 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Semiconductors Portfolio | -0.00 | -0.00 | -0.00 | 94 | Semiconductors, Technology Equities | FCNVX vs FSELX | |
| T. Rowe Price Ultra Short-Term Bond Fund Class I | 0.02 | 0.30 | 0.36 | 99 | Ultrashort Bond | FCNVX vs TRSTX | |
| Vanguard Ultra-Short-Term Bond Fund Investor Share... | 0.05 | 0.27 | 0.29 | 99 | Total Bond Market | FCNVX vs VUBFX | |
| Fidelity Series Real Estate Income Fund | 0.07 | 0.24 | 0.19 | 88 | REIT | FCNVX vs FSREX | |
| Fidelity ZERO International Index Fund | 0.07 | 0.05 | 0.03 | 55 | Foreign Large Cap Equities | FCNVX vs FZILX |
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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 -0.02, roughly unchanged from -0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Coca-Cola Company | -0.02 | -0.03 | -0.04 | 76 | Consumer Defensive | |
| Sprott Physical Gold Trust | 0.14 | 0.07 | 0.08 | 61 | Financial Services |
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