Looking to diversify beyond FBSOX? The mutual funds below have historically moved differently from FBSOX, 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 FBSOX
20 mutual funds have low correlation with FBSOX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Advisor Semiconductors Fund Class Z (FIKGX) (Technology Equities) with a 1Y correlation of 0.06, down from 0.53 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Advisor Semiconductors Fund Class Z | 0.06 | 0.33 | 0.53 | 82 | Technology Equities | FBSOX vs FIKGX | |
| Rydex Electronics Fund | 0.06 | 0.35 | 0.54 | 84 | Technology Equities | FBSOX vs RYSIX | |
| Fidelity Select Semiconductors Portfolio | 0.07 | 0.33 | 0.53 | 80 | Semiconductors, Technology Equities | FBSOX vs FSELX | |
| Fidelity Advisor Semiconductors Fund Class M | 0.07 | 0.33 | 0.53 | 81 | Technology Equities | FBSOX vs FELTX | |
| Fidelity Advisor Semiconductors Fund Class I | 0.07 | 0.33 | 0.53 | 82 | Technology Equities | FBSOX vs FELIX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FBSOX, 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 Astera Labs, Inc. (ALAB) (Technology) with a 1Y correlation of 0.06, down from 0.17 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Astera Labs, Inc. | 0.06 | 0.17 | 0.17 | 79 | Technology | |
| NVIDIA Corporation | 0.07 | 0.26 | 0.48 | 56 | Technology | |
| AST SpaceMobile, Inc. | 0.14 | 0.23 | 0.32 | 52 | Technology |
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