Looking to diversify beyond FASHX? The mutual funds below have historically moved differently from FASHX, 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 FASHX
11 mutual funds have low correlation with FASHX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Select Semiconductors Portfolio (FSELX) (Semiconductors) with a 1Y correlation of 0.14, roughly unchanged from 0.05 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Semiconductors Portfolio | 0.14 | 0.07 | 0.05 | 80 | Semiconductors, Technology Equities | FASHX vs FSELX | |
| abrdn Ultra Short Municipal Income Fund | 0.22 | 0.28 | 0.28 | 100 | Municipal Bonds | FASHX vs ATOIX | |
| Fidelity 500 Index Fund | 0.22 | 0.16 | 0.11 | 64 | S&P 500 | FASHX vs FXAIX | |
| Fidelity ZERO Total Market Index Fund | 0.23 | 0.17 | 0.12 | 64 | Large Cap Blend Equities | FASHX vs FZROX | |
| Fidelity ZERO Large Cap Index Fund | 0.23 | 0.17 | 0.11 | 59 | Large Cap Blend Equities | FASHX vs FNILX |
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