Looking to diversify beyond FDCPX? The mutual funds below have historically moved differently from FDCPX, 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 FDCPX
1 mutual funds have low correlation with FDCPX (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 0.04, down from 0.27 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | 0.04 | 0.17 | 0.27 | 87 | Energy Equities | FDCPX vs FSENX | |
| Fidelity Select Biotechnology Portfolio | 0.31 | 0.41 | 0.49 | 94 | Health & Biotech Equities | FDCPX vs FBIOX | |
| Franklin Income Fund Class A | 0.31 | 0.36 | 0.51 | 92 | Diversified Portfolio | FDCPX vs FKIQX | |
| Fidelity Global Commodity Stock Fund | 0.31 | 0.39 | 0.44 | 88 | Commodities | FDCPX vs FFGCX | |
| ARK Venture Fund | 0.38 | 0.50 | — | 99 | Technology Equities | FDCPX vs ARKVX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FDCPX, 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 Reaves Utility Income Trust (UTG) (Financial Services) with a 1Y correlation of 0.48, roughly unchanged from 0.41 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Reaves Utility Income Trust | 0.48 | 0.36 | 0.41 | 55 | Financial Services | |
| Comfort Systems USA, Inc. | 0.69 | 0.65 | 0.62 | 95 | Industrials | |
| Seagate Technology plc | 0.71 | 0.64 | 0.67 | 99 | Technology |
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