Looking to diversify beyond FBIOX? The mutual funds below have historically moved differently from FBIOX, 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 FBIOX
4 mutual funds have low correlation with FBIOX (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 -0.11, down from 0.17 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | -0.11 | 0.11 | 0.17 | 87 | Energy Equities | FBIOX vs FSENX | |
| Fidelity Natural Resources Fund | 0.04 | 0.20 | 0.23 | 81 | Energy Equities | FBIOX vs FNARX | |
| Fidelity Select Technology Portfolio | 0.23 | 0.35 | 0.48 | 65 | Technology Equities | FBIOX vs FSPTX | |
| Fidelity Select Semiconductors Portfolio | 0.27 | 0.35 | 0.44 | 80 | Semiconductors, Technology Equities | FBIOX vs FSELX | |
| Fidelity China Region Fund | 0.30 | 0.32 | 0.38 | 85 | China Equities, Asia Pacific Equities | FBIOX vs FHKCX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FBIOX, 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 NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of 0.17, down from 0.36 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | 0.17 | 0.22 | 0.36 | 61 | Technology |
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