Looking to diversify beyond FAFAX? The mutual funds below have historically moved differently from FAFAX, 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 FAFAX
1 mutual funds have low correlation with FAFAX (below 0.3), 0 of which are negatively correlated. The least correlated is Leader Short Term High Yield Bond Fund (LCCMX) (Short-Term Bond) with a 1Y correlation of 0.13, down from 0.33 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Leader Short Term High Yield Bond Fund | 0.13 | 0.12 | 0.33 | 84 | Short-Term Bond | FAFAX vs LCCMX | |
| Fidelity Select Semiconductors Portfolio | 0.60 | 0.49 | 0.50 | 80 | Semiconductors, Technology Equities | FAFAX vs FSELX | |
| Fidelity ZERO Large Cap Index Fund | 0.76 | 0.65 | 0.63 | 59 | Large Cap Blend Equities | FAFAX vs FNILX | |
| Fidelity 500 Index Fund | 0.76 | 0.65 | 0.63 | 64 | S&P 500 | FAFAX vs FXAIX | |
| Fidelity ZERO Total Market Index Fund | 0.78 | 0.67 | 0.64 | 64 | Large Cap Blend Equities | FAFAX vs FZROX |
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