Looking to diversify beyond FCYIX? The mutual funds below have historically moved differently from FCYIX, 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 FCYIX
11 mutual funds have low correlation with FCYIX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Select Energy Portfolio (FSENX) (Energy Equities) with a 1Y correlation of 0.03, down from 0.40 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | 0.03 | 0.30 | 0.40 | 87 | Energy Equities | FCYIX vs FSENX | |
| Fidelity Select Biotechnology Portfolio | 0.04 | 0.41 | 0.46 | 94 | Health & Biotech Equities | FCYIX vs FBIOX | |
| Fidelity High Income Fund | 0.13 | 0.41 | 0.46 | 90 | High Yield Bonds | FCYIX vs SPHIX | |
| Fidelity Strategic Income Fund | 0.18 | 0.39 | 0.40 | 72 | Multisector Bonds | FCYIX vs FADMX | |
| Fidelity Total International Index Fund | 0.20 | 0.50 | 0.61 | 73 | Foreign Large Cap Equities | FCYIX vs FTIHX |
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