Looking to diversify beyond FNILX? The mutual funds below have the lowest correlation with FNILX — 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 FNILX.
Best Diversifiers for FNILX
83 mutual funds have low correlation with FNILX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Series Treasury Bill Index Fund (FHQFX) (Ultrashort Bond) with a 1Y correlation of 0.00, roughly unchanged from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Series Treasury Bill Index Fund | 0.00 | 0.03 | 0.03 | 100 | Ultrashort Bond | FNILX vs FHQFX | |
| Fidelity Series 0-5 Year Inflation-Protected Bond ... | 0.01 | 0.10 | — | 80 | Inflation-Protected Bonds | FNILX vs FSTZX | |
| Vanguard Short-Term Inflation-Protected Securities... | 0.04 | 0.09 | 0.14 | 85 | Inflation-Protected Bonds | FNILX vs VTSPX | |
| Strategic Advisers Tax-Sensitive Short Duration Fu... | 0.04 | 0.05 | 0.03 | 97 | Municipal Bonds | FNILX vs FGNSX | |
| Vanguard Short-Term Inflation-Protected Securities... | 0.05 | 0.10 | 0.15 | 84 | Inflation-Protected Bonds | FNILX vs VTAPX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FNILX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FNILX and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.20, down from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.20 | -0.01 | 0.12 | 72 | Consumer Defensive | |
| The Coca-Cola Company | -0.18 | 0.03 | 0.21 | 74 | Consumer Defensive | |
| Exxon Mobil Corporation | -0.18 | 0.05 | 0.18 | 72 | Energy | |
| Duke Energy Corporation | -0.15 | -0.01 | 0.10 | 62 | Utilities | |
| Chevron Corporation | -0.14 | 0.06 | 0.20 | 70 | Energy |
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