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Do you consider yourself a value investor? Are you putting your crash helmet on because you believe the coming rally is just "too good to be true?" We ran a screen with that idea in mind.

We began by screening the basic material sector for undervalued stocks, those with PEG ratios below 1.

We then screened for the companies with a positive correlation to the VIX index. This means as volatility and fear increases, that these stocks have tended to outperform relative to the S&P500. Of course, past performance is no guarantee of future returns.

For an interactive version of this chart, click on the image below. Analyst ratings sourced from Zacks Investment Research.

Tool provided by Kapitall (www.kapitall.com).

Do you think these basic material stocks would weather a stock market storm? Use this list as a starting point for your own analysis.

List sorted alphabetically.

1. Compania de Minas Buenaventura SA (BVN): Engages in the exploration, mining, processing, and development of gold, silver, and other metals in Peru. Market cap at $9.97B, most recent closing price at $36.01. PEG at 0.9. Correlation with the VIX index at 0.758 over the last 60 days.

2. Noranda Aluminum Holding Corp. (NOR): Engages in the production and sale of primary aluminum products and rolled aluminum coils in the United States. Market cap at $465.71M, most recent closing price at $6.85. PEG at 0.75. Correlation with the VIX index at 0.587 over the last 60 days.

3. Thompson Creek Metals Company Inc. (TC): Engages in mining, milling, processing, and marketing molybdenum products in the United States and Canada. Market cap at $555.12M, most recent closing price at $3.26. PEG at 0.3. Correlation with the VIX index at 0.615 over the last 60 days.

4. Walter Energy, Inc. (WLT): Produces and exports metallurgical coal for the steel industry primarily in the United States. Market cap at $2.16B, most recent closing price at $34.90. PEG at 0.69. Correlation with the VIX index at 0.507 over the last 60 days.

Written by Rebecca Lipman. Price data sourced from Yahoo! Finance, all other data sourced from Finviz.

Source: Undervalued Basic Material Stocks Positively Correlated With Volatility