Looking to diversify beyond FLCNX? The mutual funds below have historically moved differently from FLCNX, 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 FLCNX
7 mutual funds have low correlation with FLCNX (below 0.3), 1 of which are negatively correlated. The least correlated is Fidelity Select Energy Portfolio (FSENX) (Energy Equities) with a 1Y correlation of -0.14, down from 0.26 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | -0.14 | 0.11 | 0.26 | 88 | Energy Equities | FLCNX vs FSENX | |
| Vanguard Short-Term Inflation-Protected Securities... | 0.04 | 0.05 | 0.12 | 87 | Inflation-Protected Bonds | FLCNX vs VTAPX | |
| Edgar Lomax Value Fund | 0.18 | 0.34 | 0.51 | 96 | Large Cap Value Equities | FLCNX vs LOMAX | |
| Fidelity Strategic Real Return Fund Class K6 | 0.19 | 0.33 | 0.44 | 91 | Diversified Portfolio | FLCNX vs FSRKX | |
| Fidelity Floating Rate High Income Fund | 0.26 | 0.27 | 0.30 | 94 | Bank Loan | FLCNX 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 FLCNX, 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 Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.29, down from 0.02 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.29 | -0.12 | 0.02 | 64 | Consumer Defensive | |
| Chevron Corporation | -0.28 | -0.04 | 0.14 | 76 | Energy | |
| Occidental Petroleum Corporation | -0.26 | -0.02 | 0.13 | 68 | Energy | |
| Exxon Mobil Corporation | -0.25 | -0.05 | 0.12 | 85 | Energy | |
| Devon Energy Corporation | -0.24 | 0.01 | 0.18 | 76 | Energy |
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