Looking to diversify beyond FCVSX? The mutual funds below have the lowest correlation with FCVSX — 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 FCVSX.
Best Diversifiers for FCVSX
6 mutual funds have low correlation with FCVSX (below 0.3), 0 of which are negatively correlated. The least correlated is American Century High-Yield Municipal Fund (ABHYX) (High Yield Muni) with a 1Y correlation of 0.17, roughly unchanged from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| American Century High-Yield Municipal Fund | 0.17 | 0.14 | 0.13 | 81 | High Yield Muni | FCVSX vs ABHYX | |
| Invesco AMT-Free Municipal Fund | 0.20 | 0.17 | 0.14 | 69 | Municipal Bonds | FCVSX vs OPTAX | |
| Fidelity Floating Rate High Income Fund | 0.21 | 0.28 | 0.35 | 93 | Bank Loan | FCVSX vs FFRHX | |
| Fidelity Real Estate Income Fund | 0.22 | 0.36 | 0.51 | 67 | REIT | FCVSX vs FRIFX | |
| Fidelity Select Pharmaceuticals Portfolio | 0.27 | 0.40 | 0.46 | 81 | Health & Biotech Equities | FCVSX vs FPHAX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FCVSX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FCVSX and solid risk/return profiles. The least correlated is Berkshire Hathaway Inc. (BRK-A) (Financial Services) with a 1Y correlation of -0.12, down from 0.34 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Berkshire Hathaway Inc. | -0.12 | 0.17 | 0.34 | 52 | Financial Services | |
| Realty Income Corporation | -0.08 | 0.09 | 0.24 | 69 | Real Estate | |
| Southwest Airlines Co. | 0.40 | 0.41 | 0.50 | 65 | Industrials | |
| American Airlines Group Inc. | 0.44 | 0.46 | 0.53 | 62 | Industrials | |
| Delta Air Lines, Inc. | 0.49 | 0.52 | 0.57 | 80 | Industrials |
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