Looking to diversify beyond TBCIX? The mutual funds below have historically moved differently from TBCIX, 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 TBCIX
33 mutual funds have low correlation with TBCIX (below 0.3), 2 of which are negatively correlated. The least correlated is Fidelity Select Energy Portfolio (FSENX) (Energy Equities) with a 1Y correlation of -0.22, down from 0.16 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | -0.22 | 0.03 | 0.16 | 87 | Energy Equities | TBCIX vs FSENX | |
| T. Rowe Price Ultra Short-Term Bond Fund Class I | -0.00 | 0.06 | 0.05 | 99 | Ultrashort Bond | TBCIX vs TRSTX | |
| Vanguard Short-Term Inflation-Protected Securities... | 0.01 | 0.04 | 0.11 | 91 | Inflation-Protected Bonds | TBCIX vs VTAPX | |
| T. Rowe Price Short-Term Bond Fund | 0.06 | 0.05 | 0.08 | 95 | Short-Term Bond | TBCIX vs PRWBX | |
| T. Rowe Price Tax Free Short-Intermediate Fund | 0.08 | 0.03 | 0.08 | 58 | Municipal Bonds | TBCIX vs PRFSX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for TBCIX, 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 Duke Energy Corporation (DUK) (Utilities) with a 1Y correlation of -0.39, down from -0.04 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Duke Energy Corporation | -0.39 | -0.22 | -0.04 | 56 | Utilities | |
| Altria Group, Inc. | -0.36 | -0.16 | -0.03 | 66 | Consumer Defensive | |
| Chevron Corporation | -0.35 | -0.12 | 0.03 | 80 | Energy | |
| Exxon Mobil Corporation | -0.32 | -0.12 | 0.04 | 84 | Energy | |
| Occidental Petroleum Corporation | -0.31 | -0.05 | 0.10 | 70 | Energy |
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