Looking to diversify beyond FNCMX? The mutual funds below have the lowest correlation with FNCMX — 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 FNCMX.
Best Diversifiers for FNCMX
7 mutual funds have low correlation with FNCMX (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 -0.13, down from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | -0.13 | 0.10 | 0.22 | 70 | Energy Equities | FNCMX vs FSENX | |
| Vanguard Short-Term Inflation-Protected Securities... | 0.05 | 0.08 | 0.13 | 89 | Inflation-Protected Bonds | FNCMX vs VTAPX | |
| Fidelity Natural Resources Fund | 0.07 | 0.21 | 0.31 | 57 | Energy Equities | FNCMX vs FNARX | |
| Fidelity Conservative Income Bond Institutional Cl... | 0.11 | 0.05 | 0.03 | 99 | Ultrashort Bond | FNCMX vs FCNVX | |
| Janus Henderson Global Life Sciences Fund | 0.22 | 0.39 | 0.54 | 89 | Health & Biotech Equities | FNCMX vs JNGLX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FNCMX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FNCMX and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.33, down from 0.00 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.33 | -0.14 | 0.00 | 78 | Consumer Defensive | |
| Duke Energy Corporation | -0.30 | -0.16 | -0.03 | 65 | Utilities | |
| Chubb Limited | -0.28 | -0.08 | 0.09 | 83 | Financial Services | |
| The Coca-Cola Company | -0.28 | -0.10 | 0.10 | 82 | Consumer Defensive | |
| Verizon Communications Inc. | -0.27 | -0.12 | 0.02 | 57 | Communication Services |
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