Looking to diversify beyond FDCAX? The mutual funds below have historically moved differently from FDCAX, 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 FDCAX
1 mutual funds have low correlation with FDCAX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Floating Rate High Income Fund (FFRHX) (Bank Loan) with a 1Y correlation of 0.26, roughly unchanged from 0.32 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Floating Rate High Income Fund | 0.26 | 0.29 | 0.32 | 93 | Bank Loan | FDCAX vs FFRHX | |
| Provident Trust Strategy Fund | 0.58 | 0.70 | 0.80 | 51 | Large Cap Growth Equities | FDCAX vs PROVX | |
| Fidelity Low-Priced Stock Fund | 0.66 | 0.71 | 0.76 | 75 | Mid Cap Value Equities | FDCAX vs FLPSX | |
| Vanguard Dividend Appreciation Index Fund Admiral ... | 0.70 | 0.76 | 0.82 | 71 | Dividend, Large Cap Blend Equities | FDCAX vs VDADX | |
| Adams Diversified Equity Fund, Inc. | 0.73 | 0.80 | 0.87 | 88 | Large Cap Blend Equities | FDCAX vs ADX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FDCAX, 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 Pathward Financial, Inc. (CASH) (Financial Services) with a 1Y correlation of 0.29, down from 0.48 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Pathward Financial, Inc. | 0.29 | 0.38 | 0.48 | 65 | Financial Services | |
| NVIDIA Corporation | 0.66 | 0.67 | 0.73 | 61 | Technology |
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