Looking to diversify beyond FFNOX? The mutual funds below have the lowest correlation with FFNOX — 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 FFNOX.
Best Diversifiers for FFNOX
4 mutual funds have low correlation with FFNOX (below 0.3), 0 of which are negatively correlated. The least correlated is MH Elite Small Cap Fund of Funds Fund (MHELX) (Diversified Portfolio) with a 1Y correlation of 0.03, down from 0.50 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MH Elite Small Cap Fund of Funds Fund | 0.03 | 0.16 | 0.50 | 67 | Diversified Portfolio | FFNOX vs MHELX | |
| Vanguard Short-Term Inflation-Protected Securities... | 0.09 | 0.18 | 0.21 | 89 | Inflation-Protected Bonds | FFNOX vs VTAPX | |
| Fidelity Conservative Income Bond Institutional Cl... | 0.10 | 0.07 | 0.05 | 99 | Total Bond Market | FFNOX vs FCNVX | |
| Fidelity Floating Rate High Income Fund | 0.26 | 0.31 | 0.35 | 92 | Bank Loan | FFNOX vs FFRHX | |
| BlackRock Global Equity Market Neutral Fund | 0.35 | 0.19 | 0.12 | 95 | Equity Market Neutral | FFNOX vs BDMAX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FFNOX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FFNOX and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.18, down from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.18 | 0.03 | 0.14 | 70 | Consumer Defensive | |
| Exxon Mobil Corporation | -0.16 | 0.07 | 0.20 | 68 | Energy | |
| ConocoPhillips Company | -0.13 | 0.08 | 0.21 | 61 | Energy | |
| Chevron Corporation | -0.11 | 0.09 | 0.21 | 68 | Energy | |
| The Coca-Cola Company | -0.10 | 0.06 | 0.21 | 74 | Consumer Defensive |
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Build a portfolio that complements FFNOX
Add FFNOX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with FFNOX