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
6 mutual funds have low correlation with FLCNX (below 0.3), 2 of which are negatively correlated. The least correlated is Fidelity Select Energy Portfolio (FSENX) (Energy Equities) with a 1Y correlation of -0.10, down from 0.28 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | -0.10 | 0.15 | 0.28 | 79 | Energy Equities | FLCNX vs FSENX | |
| Vanguard Short-Term Inflation-Protected Securities... | -0.04 | 0.05 | 0.12 | 94 | Inflation-Protected Bonds | FLCNX vs VTAPX | |
| Fidelity Strategic Real Return Fund Class K6 | 0.14 | 0.35 | 0.45 | 96 | Diversified Portfolio | FLCNX vs FSRKX | |
| Allspring Short-Term Bond Plus Fund | 0.22 | 0.12 | 0.12 | 82 | Short-Term Bond | FLCNX vs SSHIX | |
| Fidelity Floating Rate High Income Fund | 0.26 | 0.26 | 0.30 | 92 | High Yield Bonds | FLCNX vs FFRHX |
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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 -0.22, down from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Exxon Mobil Corporation | -0.22 | -0.02 | 0.12 | 85 | Energy | |
| Chevron Corporation | -0.21 | -0.01 | 0.14 | 83 | Energy | |
| Duke Energy Corporation | -0.21 | -0.12 | 0.01 | 53 | Utilities | |
| ConocoPhillips Company | -0.21 | 0.01 | 0.15 | 76 | Energy | |
| Altria Group, Inc. | -0.21 | -0.08 | 0.04 | 69 | Consumer Defensive |
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