Looking to diversify beyond FPBFX? The mutual funds below have historically moved differently from FPBFX, 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 FPBFX
0 mutual funds have low correlation with FPBFX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Select Biotechnology Portfolio (FBIOX) (Health & Biotech Equities) with a 1Y correlation of 0.34, down from 0.48 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Biotechnology Portfolio | 0.34 | 0.43 | 0.48 | 94 | Health & Biotech Equities | FPBFX vs FBIOX | |
| Morgan Stanley China A Share Fund | 0.48 | 0.48 | 0.55 | 78 | China Equities, Asia Pacific Equities | FPBFX vs CAF | |
| Artisan International Value Fund | 0.54 | 0.63 | 0.70 | 78 | Foreign Large Cap Equities | FPBFX vs ARTKX | |
| Vanguard Dividend Appreciation Index Fund Admiral ... | 0.58 | 0.58 | 0.60 | 74 | Dividend, Large Cap Blend Equities | FPBFX vs VDADX | |
| T. Rowe Price China Evolution Equity Fund | 0.60 | 0.60 | 0.65 | 69 | China Equities, Asia Pacific Equities | FPBFX vs TRCLX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FPBFX, 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 Nuvation Bio Inc. (NUVB) (Healthcare) with a 1Y correlation of 0.29, roughly unchanged from 0.31 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Nuvation Bio Inc. | 0.29 | 0.29 | 0.31 | 87 | Healthcare |
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