Looking to diversify beyond FPADX? The mutual funds below have historically moved differently from FPADX, 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 FPADX
9 mutual funds have low correlation with FPADX (below 0.3), 2 of which are negatively correlated. The least correlated is AQR Style Premia Alternative Fund - Class I (QSPIX) (Multistrategy) with a 1Y correlation of -0.10, roughly unchanged from -0.18 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| AQR Style Premia Alternative Fund - Class I | -0.10 | -0.16 | -0.18 | 79 | Multistrategy | FPADX vs QSPIX | |
| Fidelity Select Energy Portfolio | -0.00 | 0.18 | 0.28 | 85 | Energy Equities | FPADX vs FSENX | |
| Stone Ridge Reinsurance Risk Premium Interval Fund | 0.10 | 0.08 | 0.06 | 100 | Multistrategy | FPADX vs SRRIX | |
| Vanguard Short-Term Inflation-Protected Securities... | 0.13 | 0.09 | 0.11 | 82 | Inflation-Protected Bonds | FPADX vs VTAPX | |
| Fidelity Natural Resources Fund | 0.19 | 0.34 | 0.42 | 79 | Energy Equities | FPADX vs FNARX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FPADX, 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 Chubb Limited (CB) (Financial Services) with a 1Y correlation of -0.29, down from 0.06 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chubb Limited | -0.29 | -0.08 | 0.06 | 87 | Financial Services | |
| Altria Group, Inc. | -0.26 | -0.06 | 0.03 | 63 | Consumer Defensive | |
| The Coca-Cola Company | -0.21 | -0.02 | 0.07 | 86 | Consumer Defensive | |
| Walmart Inc. | -0.19 | -0.01 | 0.06 | 59 | Consumer Defensive | |
| Berkshire Hathaway Inc. | -0.18 | 0.07 | 0.22 | 66 | Financial Services |
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