Looking to diversify beyond FNSTX? The mutual funds below have historically moved differently from FNSTX, 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 FNSTX
12 mutual funds have low correlation with FNSTX (below 0.3), 1 of which are negatively correlated.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Victory Pioneer Cat Bond Fund Class Y | -0.02 | — | — | 100 | Nontraditional Bonds | FNSTX vs CBYYX | |
| Fidelity Select Energy Portfolio | 0.06 | 0.28 | 0.38 | 87 | Energy Equities | FNSTX vs FSENX | |
| Recurrent MLP & Infrastructure Fund | 0.09 | 0.38 | 0.48 | 92 | Infrastructure Equities, Energy Equities | FNSTX vs RMLPX | |
| MainStay MacKay High Yield Municipal Bond Fund | 0.12 | 0.20 | 0.19 | 91 | High Yield Muni | FNSTX vs MMHVX | |
| Goldman Sachs Energy Infrastructure Fund Class P | 0.14 | 0.46 | 0.55 | 82 | Infrastructure Equities, MLPs | FNSTX vs GAMPX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FNSTX, 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 The Williams Companies, Inc. (WMB) (Energy) with a 1Y correlation of 0.27, down from 0.52 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Williams Companies, Inc. | 0.27 | 0.48 | 0.52 | 74 | Energy | |
| Cohen & Steers Infrastructure Fund, Inc | 0.46 | 0.55 | 0.59 | 74 | Financial Services |
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