Looking to diversify beyond FDFAX? The mutual funds below have historically moved differently from FDFAX, 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 FDFAX
16 mutual funds have low correlation with FDFAX (below 0.3), 6 of which are negatively correlated. The least correlated is Fidelity Select Semiconductors Portfolio (FSELX) (Semiconductors) with a 1Y correlation of -0.25, down from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Semiconductors Portfolio | -0.25 | -0.07 | 0.13 | 80 | Semiconductors, Technology Equities | FDFAX vs FSELX | |
| Fidelity OTC Portfolio | -0.19 | 0.01 | 0.24 | 72 | Large Cap Growth Equities | FDFAX vs FOCPX | |
| Fidelity Select Tech Hardware Portfolio | -0.18 | 0.05 | 0.25 | 94 | Technology Equities | FDFAX vs FDCPX | |
| Vanguard PRIMECAP Fund Investor Shares | -0.05 | 0.20 | 0.38 | 90 | Large Cap Growth Equities | FDFAX vs VPMCX | |
| Fidelity U.S. Sustainability Index Fund | -0.02 | 0.21 | 0.41 | 50 | Large Cap Blend Equities, ESG | FDFAX vs FITLX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FDFAX, 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 Apple Inc (AAPL) (Technology) with a 1Y correlation of 0.17, down from 0.35 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Apple Inc | 0.17 | 0.22 | 0.35 | 90 | Technology |
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