Looking to diversify beyond FEQIX? The mutual funds below have historically moved differently from FEQIX, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for FEQIX
10 mutual funds have low correlation with FEQIX (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 0.05, roughly unchanged from 0.15 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Short-Term Inflation-Protected Securities... | 0.05 | 0.10 | 0.15 | 91 | Inflation-Protected Bonds | FEQIX vs VTAPX | |
| Fidelity Conservative Income Bond Institutional Cl... | 0.10 | 0.02 | -0.01 | 100 | Ultrashort Bond | FEQIX vs FCNVX | |
| Fidelity Flex Conservative Income Bond Fund | 0.12 | 0.07 | 0.04 | 100 | Total Bond Market | FEQIX vs FJTDX | |
| Fidelity Select Energy Portfolio | 0.14 | 0.37 | 0.49 | 87 | Energy Equities | FEQIX vs FSENX | |
| Fidelity Floating Rate High Income Fund | 0.15 | 0.27 | 0.32 | 95 | Bank Loan | FEQIX vs FFRHX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FEQIX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Occidental Petroleum Corporation (OXY) (Energy) with a 1Y correlation of -0.02, down from 0.37 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Occidental Petroleum Corporation | -0.02 | 0.22 | 0.37 | 70 | Energy | |
| Devon Energy Corporation | -0.01 | 0.25 | 0.38 | 76 | Energy | |
| BP p.l.c. | 0.04 | 0.22 | 0.38 | 84 | Energy | |
| Chevron Corporation | 0.04 | 0.26 | 0.38 | 80 | Energy | |
| Petróleo Brasileiro S.A. - Petrobras | 0.04 | 0.24 | 0.26 | 85 | Energy |
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