Looking to diversify beyond FBSOX? The mutual funds below have the lowest correlation with FBSOX — 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 FBSOX.
Best Diversifiers for FBSOX
8 mutual funds have low correlation with FBSOX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Select Semiconductors Portfolio (FSELX) (Semiconductors) with a 1Y correlation of 0.17, down from 0.56 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Semiconductors Portfolio | 0.17 | 0.39 | 0.56 | 96 | Semiconductors, Technology Equities | FBSOX vs FSELX | |
| Fidelity Advisor Semiconductors Fund Class M | 0.17 | 0.40 | 0.56 | 96 | Technology Equities | FBSOX vs FELTX | |
| Fidelity Advisor Semiconductors Fund Class A | 0.17 | 0.40 | 0.56 | 96 | Semiconductors, Technology Equities, Actively Managed | FBSOX vs FELAX | |
| Fidelity Advisor Semiconductors Fund Class Z | 0.17 | 0.40 | 0.56 | 96 | Technology Equities | FBSOX vs FIKGX | |
| Fidelity Advisor Semiconductors Fund Class I | 0.17 | 0.40 | 0.56 | 96 | Technology Equities | FBSOX vs FELIX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FBSOX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FBSOX and solid risk/return profiles. The least correlated is Astera Labs, Inc. (ALAB) (Technology) with a 1Y correlation of 0.12, roughly unchanged from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Astera Labs, Inc. | 0.12 | 0.22 | 0.22 | 93 | Technology | |
| NVIDIA Corporation | 0.13 | 0.30 | 0.49 | 72 | Technology | |
| AST SpaceMobile, Inc. | 0.17 | 0.25 | 0.33 | 60 | Technology |
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