Looking to diversify beyond FCTDX? The mutual funds below have the lowest correlation with FCTDX — 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 FCTDX.
Best Diversifiers for FCTDX
3 mutual funds have low correlation with FCTDX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Advisor California Municipal Income Fund Class M (FCMTX) (Municipal Bonds) with a 1Y correlation of 0.18, roughly unchanged from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Advisor California Municipal Income Fund ... | 0.18 | 0.18 | 0.12 | 64 | Municipal Bonds | FCTDX vs FCMTX | |
| Fidelity SAI Municipal Income Fund | 0.19 | 0.15 | 0.12 | 69 | Municipal Bonds | FCTDX vs FSMNX | |
| Goldman Sachs Strategic Volatility Premium Fund | 0.30 | 0.19 | 0.14 | 72 | Large Cap Blend Equities | FCTDX vs SVPFX | |
| North Square Preferred and Income Securities Fund | 0.44 | 0.37 | 0.43 | 69 | Large Cap Blend Equities | FCTDX vs ORDNX | |
| Rock Oak Core Growth Fund | 0.48 | 0.65 | 0.78 | 62 | Large Cap Blend Equities | FCTDX vs RCKSX |
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