Looking to diversify beyond FELAX? The mutual funds below have the lowest correlation with FELAX — 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 FELAX.
Best Diversifiers for FELAX
0 mutual funds have low correlation with FELAX (below 0.3), 0 of which are negatively correlated. The least correlated is ARK Venture Fund (ARKVX) (Technology Equities) with a 1Y correlation of 0.32, down from 0.50 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ARK Venture Fund | 0.32 | 0.50 | — | 99 | Technology Equities | FELAX vs ARKVX | |
| Gabelli Global Content & Connectivity Fund Class I | 0.40 | 0.46 | 0.57 | 72 | Technology Equities | FELAX vs GTTIX | |
| Fidelity High Income Fund | 0.46 | 0.40 | 0.43 | 94 | High Yield Bonds | FELAX vs SPHIX | |
| Vanguard U.S. Multifactor Fund Admiral Shares | 0.49 | 0.55 | 0.62 | 85 | Multi-factor | FELAX vs VFMFX | |
| T.Rowe Price International Value Equity Fund | 0.52 | 0.51 | 0.57 | 54 | Foreign Large Cap Equities | FELAX vs TRIGX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FELAX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FELAX and solid risk/return profiles. The least correlated is AbbVie Inc. (ABBV) (Healthcare) with a 1Y correlation of -0.09, down from 0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AbbVie Inc. | -0.09 | -0.01 | 0.05 | 71 | Healthcare | |
| Eli Lilly and Company | 0.07 | 0.19 | 0.19 | 75 | Healthcare | |
| American Express Company | 0.20 | 0.35 | 0.45 | 56 | Financial Services | |
| Medpace Holdings, Inc. | 0.25 | 0.36 | 0.44 | 70 | Healthcare | |
| EMCOR Group, Inc. | 0.58 | 0.55 | 0.53 | 85 | Industrials |
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