Looking to diversify beyond FLCOX? The mutual funds below have the lowest correlation with FLCOX — 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 FLCOX.
Best Diversifiers for FLCOX
4 mutual funds have low correlation with FLCOX (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 0.09, roughly unchanged from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Short-Term Inflation-Protected Securities... | 0.09 | 0.13 | 0.17 | 89 | Inflation-Protected Bonds | FLCOX vs VTAPX | |
| Federated Hermes Equity Income Fund | 0.19 | 0.59 | 0.78 | 65 | Large Cap Value Equities | FLCOX vs LEIFX | |
| Fidelity Floating Rate High Income Fund | 0.22 | 0.31 | 0.35 | 92 | Bank Loan | FLCOX vs FFRHX | |
| AQR Long-Short Equity Fund | 0.25 | 0.30 | 0.32 | 53 | Long-Short | FLCOX vs QLEIX | |
| Fidelity Limited Term Bond Fund | 0.36 | 0.20 | 0.14 | 60 | Total Bond Market | FLCOX vs FJRLX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FLCOX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FLCOX and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.04, down from 0.33 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.04 | 0.23 | 0.33 | 70 | Consumer Defensive | |
| Exxon Mobil Corporation | 0.00 | 0.28 | 0.38 | 68 | Energy | |
| Petróleo Brasileiro S.A. - Petrobras | 0.02 | 0.20 | 0.23 | 73 | Energy | |
| Chevron Corporation | 0.03 | 0.29 | 0.39 | 68 | Energy | |
| BP p.l.c. | 0.04 | 0.23 | 0.35 | 76 | Energy |
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