Looking to diversify beyond FBIOX? The mutual funds below have the lowest correlation with FBIOX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from FBIOX.
Best Diversifiers for FBIOX
2 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 -0.03, down from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | -0.03 | 0.14 | 0.19 | 79 | Energy Equities | FBIOX vs FSENX | |
| Fidelity Natural Resources Fund | 0.08 | 0.21 | 0.24 | 87 | Energy Equities | FBIOX vs FNARX | |
| Fidelity Select Semiconductors Portfolio | 0.31 | 0.37 | 0.46 | 97 | Semiconductors, Technology Equities | FBIOX vs FSELX | |
| Fidelity Select Technology Portfolio | 0.32 | 0.39 | 0.50 | 94 | Technology Equities | FBIOX vs FSPTX | |
| Fidelity China Region Fund | 0.35 | 0.33 | 0.39 | 96 | China Equities | FBIOX vs FHKCX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FBIOX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FBIOX and solid risk/return profiles. The least correlated is NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of 0.24, down from 0.37 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | 0.24 | 0.23 | 0.37 | 78 | Technology |
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