Looking to diversify beyond FDEEX? The mutual funds below have the lowest correlation with FDEEX — 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 FDEEX.
Best Diversifiers for FDEEX
3 mutual funds have low correlation with FDEEX (below 0.3), 1 of which are negatively correlated. The least correlated is Fidelity Select Energy Portfolio (FSENX) (Energy Equities) with a 1Y correlation of -0.02, down from 0.39 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | -0.02 | 0.25 | 0.39 | 63 | Energy Equities | FDEEX vs FSENX | |
| Vanguard Short-Term Inflation-Protected Securities... | 0.13 | 0.17 | 0.20 | 91 | Inflation-Protected Bonds | FDEEX vs VTAPX | |
| Fidelity Floating Rate High Income Fund | 0.24 | 0.30 | 0.37 | 92 | Bank Loan | FDEEX vs FFRHX | |
| AQR Long-Short Equity Fund | 0.43 | 0.43 | 0.33 | 54 | Long-Short | FDEEX vs QLEIX | |
| AQR Long-Short Equity Fund Class N | 0.43 | 0.43 | 0.33 | 51 | Long-Short, Actively Managed | FDEEX vs QLENX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FDEEX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FDEEX and solid risk/return profiles. The least correlated is Waste Management, Inc. (WM) (Industrials) with a 1Y correlation of -0.19, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Waste Management, Inc. | -0.19 | 0.05 | 0.18 | 51 | Industrials | |
| Altria Group, Inc. | -0.19 | 0.01 | 0.13 | 79 | Consumer Defensive | |
| Exxon Mobil Corporation | -0.16 | 0.07 | 0.23 | 71 | Energy | |
| The Coca-Cola Company | -0.15 | 0.04 | 0.18 | 82 | Consumer Defensive | |
| ConocoPhillips Company | -0.14 | 0.08 | 0.23 | 63 | Energy |
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Build a portfolio that complements FDEEX
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