Looking to diversify beyond FCFTX? The mutual funds below have historically moved differently from FCFTX, 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 FCFTX
0 mutual funds have low correlation with FCFTX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity California Municipal Income Fund (FCTFX) (Municipal Bonds) with a 1Y correlation of 0.40, roughly unchanged from 0.38 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity California Municipal Income Fund | 0.40 | 0.41 | 0.38 | 65 | Municipal Bonds | FCFTX vs FCTFX | |
| Vanguard California Intermediate-Term Tax-Exempt F... | 0.42 | 0.41 | 0.38 | 65 | Municipal Bonds, Intermediate Core Bond, Investment Grade Bonds, Actively Managed | FCFTX vs VCAIX | |
| Fidelity Select Semiconductors Portfolio | 0.64 | 0.56 | 0.59 | 80 | Semiconductors, Technology Equities | FCFTX vs FSELX | |
| Fidelity ZERO Large Cap Index Fund | 0.80 | 0.73 | 0.74 | 59 | Large Cap Blend Equities | FCFTX vs FNILX | |
| Voya Target Retirement 2040 Fund | 0.81 | 0.80 | 0.81 | 75 | Target Retirement Date | FCFTX vs IRSOX |
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