Looking to diversify beyond FZIPX? The mutual funds below have the lowest correlation with FZIPX — 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 FZIPX.
Best Diversifiers for FZIPX
5 mutual funds have low correlation with FZIPX (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares (VTAPX) (Inflation-Protected Bonds) with a 1Y correlation of 0.00, down from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Short-Term Inflation-Protected Securities... | 0.00 | 0.11 | 0.15 | 94 | Inflation-Protected Bonds | FZIPX vs VTAPX | |
| Fidelity Select Energy Portfolio | 0.10 | 0.38 | 0.46 | 78 | Energy Equities | FZIPX vs FSENX | |
| Fidelity Floating Rate High Income Fund | 0.21 | 0.29 | 0.34 | 93 | High Yield Bonds | FZIPX vs FFRHX | |
| AQR Long-Short Equity Fund | 0.27 | 0.31 | 0.26 | 61 | Long-Short | FZIPX vs QLEIX | |
| AQR Long-Short Equity N | 0.27 | 0.31 | 0.26 | 58 | Long-Short | FZIPX vs QLENX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FZIPX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FZIPX and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.17, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.17 | 0.07 | 0.18 | 67 | Consumer Defensive | |
| The Coca-Cola Company | -0.07 | 0.08 | 0.19 | 63 | Consumer Defensive | |
| Duke Energy Corporation | -0.07 | 0.07 | 0.13 | 52 | Utilities | |
| Exxon Mobil Corporation | -0.07 | 0.19 | 0.29 | 85 | Energy | |
| Walmart Inc. | -0.02 | 0.13 | 0.21 | 59 | Consumer Defensive |
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