Looking to diversify beyond FLCNX? The mutual funds below have the lowest correlation with FLCNX — 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 FLCNX.
Best Diversifiers for FLCNX
5 mutual funds have low correlation with FLCNX (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 0.00, down from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Short-Term Inflation-Protected Securities... | 0.00 | 0.05 | 0.12 | 84 | Inflation-Protected Bonds | FLCNX vs VTAPX | |
| Fidelity Strategic Real Return Fund Class K6 | 0.16 | 0.35 | 0.45 | 88 | Diversified Portfolio | FLCNX vs FSRKX | |
| Edgar Lomax Value Fund | 0.24 | 0.36 | 0.53 | 85 | Large Cap Value Equities | FLCNX vs LOMAX | |
| Fidelity Floating Rate High Income Fund | 0.27 | 0.27 | 0.30 | 92 | Bank Loan | FLCNX vs FFRHX | |
| Allspring Short-Term Bond Plus Fund | 0.29 | 0.13 | 0.13 | 79 | Short-Term Bond | FLCNX vs SSHIX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FLCNX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FLCNX and solid risk/return profiles. The least correlated is Exxon Mobil Corporation (XOM) (Energy) with a 1Y correlation of -0.23, down from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Exxon Mobil Corporation | -0.23 | -0.03 | 0.12 | 72 | Energy | |
| Chevron Corporation | -0.22 | -0.02 | 0.14 | 70 | Energy | |
| Altria Group, Inc. | -0.21 | -0.09 | 0.04 | 72 | Consumer Defensive | |
| ConocoPhillips Company | -0.20 | 0.01 | 0.14 | 65 | Energy | |
| Duke Energy Corporation | -0.20 | -0.12 | 0.01 | 62 | Utilities |
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