Looking to diversify beyond FNBGX? The mutual funds below have historically moved differently from FNBGX, 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 FNBGX
14 mutual funds have low correlation with FNBGX (below 0.3), 0 of which are negatively correlated. The least correlated is GMO U.S. Treasury Fund (GUSTX) (Government Bonds) with a 1Y correlation of 0.07, roughly unchanged from 0.03 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| GMO U.S. Treasury Fund | 0.07 | 0.04 | 0.03 | 99 | Government Bonds | FNBGX vs GUSTX | |
| Fidelity Select Semiconductors Portfolio | 0.08 | 0.04 | 0.03 | 82 | Semiconductors, Technology Equities | FNBGX vs FSELX | |
| Centre American Select Equity Fund | 0.17 | 0.17 | 0.04 | 87 | Large Cap Blend Equities | FNBGX vs DHAMX | |
| Federated Hermes Adjustable Rate Fund | 0.22 | 0.46 | 0.44 | 99 | Government Bonds | FNBGX vs FEUGX | |
| Fidelity ZERO Large Cap Index Fund | 0.24 | 0.18 | 0.09 | 72 | Large Cap Blend Equities | FNBGX vs FNILX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FNBGX, 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 Occidental Petroleum Corporation (OXY) (Energy) with a 1Y correlation of -0.32, down from -0.15 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Occidental Petroleum Corporation | -0.32 | -0.13 | -0.15 | 68 | Energy | |
| Kinder Morgan, Inc. | -0.06 | 0.09 | 0.02 | 67 | Energy | |
| NVIDIA Corporation | -0.00 | -0.01 | 0.01 | 59 | Technology | |
| Berkshire Hathaway Inc. | 0.04 | 0.09 | 0.00 | 67 | Financial Services | |
| McKesson Corporation | 0.05 | 0.04 | -0.01 | 59 | Healthcare |
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