Looking to diversify beyond FNCMX? The mutual funds below have historically moved differently from FNCMX, 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 FNCMX
9 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 0.21 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | -0.13 | 0.09 | 0.21 | 87 | Energy Equities | FNCMX vs FSENX | |
| Fidelity Series Commodity Strategy Fund | 0.03 | 0.10 | 0.14 | 70 | Commodities | FNCMX vs FCSSX | |
| Vanguard Short-Term Inflation-Protected Securities... | 0.06 | 0.07 | 0.12 | 91 | Inflation-Protected Bonds | FNCMX vs VTAPX | |
| Fidelity Natural Resources Fund | 0.07 | 0.21 | 0.30 | 81 | Energy Equities | FNCMX vs FNARX | |
| Fidelity Conservative Income Bond Institutional Cl... | 0.10 | 0.04 | 0.03 | 99 | Ultrashort Bond | FNCMX vs FCNVX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FNCMX, 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 Duke Energy Corporation (DUK) (Utilities) with a 1Y correlation of -0.37, down from -0.03 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Duke Energy Corporation | -0.37 | -0.21 | -0.03 | 52 | Utilities | |
| Altria Group, Inc. | -0.36 | -0.15 | -0.02 | 66 | Consumer Defensive | |
| Chubb Limited | -0.31 | -0.09 | 0.08 | 87 | Financial Services | |
| The Coca-Cola Company | -0.30 | -0.12 | 0.09 | 87 | Consumer Defensive | |
| Chevron Corporation | -0.28 | -0.05 | 0.11 | 79 | Energy |
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