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
5 mutual funds have low correlation with FNCMX (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 0.02, down from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Short-Term Inflation-Protected Securities... | 0.02 | 0.06 | 0.12 | 84 | Inflation-Protected Bonds | FNCMX vs VTAPX | |
| Fidelity Conservative Income Bond Institutional Cl... | 0.09 | 0.05 | 0.03 | 99 | Total Bond Market | FNCMX vs FCNVX | |
| Fidelity Select Pharmaceuticals Portfolio | 0.27 | 0.37 | 0.45 | 64 | Health & Biotech Equities | FNCMX vs FPHAX | |
| Janus Henderson Global Life Sciences Fund | 0.29 | 0.42 | 0.56 | 68 | Health & Biotech Equities | FNCMX vs JNGLX | |
| Fidelity Floating Rate High Income Fund | 0.29 | 0.28 | 0.30 | 92 | Bank Loan | FNCMX vs FFRHX |
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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 Duke Energy Corporation (DUK) (Utilities) with a 1Y correlation of -0.26, down from -0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Duke Energy Corporation | -0.26 | -0.15 | -0.03 | 62 | Utilities | |
| Altria Group, Inc. | -0.25 | -0.11 | 0.00 | 72 | Consumer Defensive | |
| The Coca-Cola Company | -0.24 | -0.08 | 0.09 | 74 | Consumer Defensive | |
| Chubb Limited | -0.23 | -0.07 | 0.10 | 69 | Financial Services | |
| Exxon Mobil Corporation | -0.22 | -0.04 | 0.08 | 72 | Energy |
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