Looking to diversify beyond FXNAX? The mutual funds below have the lowest correlation with FXNAX — 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 FXNAX.
Best Diversifiers for FXNAX
77 mutual funds have low correlation with FXNAX (below 0.3), 0 of which are negatively correlated. The least correlated is AQR Long-Short Equity Fund (QLEIX) (Long-Short) with a 1Y correlation of 0.06, up from -0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| AQR Long-Short Equity Fund | 0.06 | -0.05 | -0.13 | 53 | Long-Short | FXNAX vs QLEIX | |
| Fidelity Floating Rate High Income Fund | 0.09 | 0.11 | 0.12 | 92 | Bank Loan | FXNAX vs FFRHX | |
| Fidelity Select Semiconductors Portfolio | 0.10 | 0.07 | 0.07 | 96 | Semiconductors, Technology Equities | FXNAX vs FSELX | |
| Fidelity Select Technology Portfolio | 0.10 | 0.09 | 0.09 | 89 | Technology Equities | FXNAX vs FSPTX | |
| AQR Diversifying Strategies Fund Class N | 0.11 | 0.06 | -0.11 | 88 | Tactical Allocation | FXNAX vs QDSNX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FXNAX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FXNAX and solid risk/return profiles. The least correlated is ConocoPhillips Company (COP) (Energy) with a 1Y correlation of -0.30, down from -0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| ConocoPhillips Company | -0.30 | -0.11 | -0.13 | 61 | Energy | |
| Exxon Mobil Corporation | -0.26 | -0.09 | -0.12 | 68 | Energy | |
| Chevron Corporation | -0.23 | -0.08 | -0.12 | 68 | Energy | |
| BP p.l.c. | -0.23 | -0.09 | -0.13 | 76 | Energy | |
| Energy Transfer LP | -0.21 | -0.03 | -0.06 | 67 | Energy |
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Build a portfolio that complements FXNAX
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