Looking to diversify beyond VPMAX? The mutual funds below have historically moved differently from VPMAX, 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 VPMAX
4 mutual funds have low correlation with VPMAX (below 0.3), 1 of which are negatively correlated. The least correlated is Fidelity Select Energy Portfolio (FSENX) (Energy Equities) with a 1Y correlation of -0.04, down from 0.31 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | -0.04 | 0.18 | 0.31 | 87 | Energy Equities | VPMAX vs FSENX | |
| Vanguard Short-Term Inflation-Protected Securities... | 0.08 | 0.08 | 0.13 | 91 | Inflation-Protected Bonds | VPMAX vs VTAPX | |
| Nuveen Short Duration High Yield Municipal Bond Fu... | 0.26 | 0.13 | 0.12 | 88 | High Yield Muni | VPMAX vs NVHIX | |
| Fidelity Floating Rate High Income Fund | 0.27 | 0.29 | 0.31 | 93 | Bank Loan | VPMAX vs FFRHX | |
| Goldman Sachs Strategic Volatility Premium Fund | 0.31 | 0.15 | 0.13 | 96 | Large Cap Blend Equities | VPMAX vs SVPFX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for VPMAX, 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 Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.32, down from 0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.32 | -0.06 | 0.07 | 66 | Consumer Defensive | |
| Chubb Limited | -0.24 | 0.02 | 0.20 | 87 | Financial Services | |
| Duke Energy Corporation | -0.24 | -0.05 | 0.05 | 52 | Utilities | |
| Chevron Corporation | -0.22 | 0.03 | 0.20 | 79 | Energy | |
| The Coca-Cola Company | -0.20 | 0.01 | 0.18 | 87 | Consumer Defensive |
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