Looking to diversify beyond FAPDX? The mutual funds below have historically moved differently from FAPDX, 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 FAPDX
22 mutual funds have low correlation with FAPDX (below 0.3), 1 of which are negatively correlated. The least correlated is Fidelity Select Semiconductors Portfolio (FSELX) (Semiconductors) with a 1Y correlation of -0.01, roughly unchanged from -0.07 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Semiconductors Portfolio | -0.01 | -0.07 | — | 80 | Semiconductors, Technology Equities | FAPDX vs FSELX | |
| DFA One Year Fixed Income Portfolio | 0.02 | 0.03 | — | 100 | Ultrashort Bond | FAPDX vs DFIHX | |
| SEI Institutional Investments Trust Opportunistic ... | 0.06 | 0.11 | — | 100 | Ultrashort Bond | FAPDX vs ENIAX | |
| CrossingBridge Ultra-Short Duration Fund | 0.07 | 0.07 | — | 99 | Ultrashort Bond | FAPDX vs CBUDX | |
| Tactical Multi-Purpose Fund | 0.09 | 0.03 | — | 100 | Ultrashort Bond | FAPDX vs TMPFX |
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