Looking to diversify beyond FDFIX? The mutual funds below have the lowest correlation with FDFIX — 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 FDFIX.
Best Diversifiers for FDFIX
12 mutual funds have low correlation with FDFIX (below 0.3), 2 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 0.34 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | -0.03 | 0.22 | 0.34 | 78 | Energy Equities | FDFIX vs FSENX | |
| Vanguard Short-Term Inflation-Protected Securities... | -0.01 | 0.08 | 0.14 | 94 | Inflation-Protected Bonds | FDFIX vs VTAPX | |
| Fidelity Flex Conservative Income Municipal Bond F... | 0.07 | 0.06 | 0.03 | 98 | Municipal Bonds | FDFIX vs FUEMX | |
| Fidelity Flex Conservative Income Bond Fund | 0.07 | 0.08 | 0.06 | 99 | Total Bond Market | FDFIX vs FJTDX | |
| Franklin Adjustable U.S. Government Securities Fun... | 0.14 | 0.11 | 0.12 | 93 | Ultrashort Bond | FDFIX vs FISAX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FDFIX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FDFIX and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.19, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.19 | 0.01 | 0.13 | 67 | Consumer Defensive | |
| Exxon Mobil Corporation | -0.15 | 0.06 | 0.19 | 85 | Energy | |
| Duke Energy Corporation | -0.13 | 0.00 | 0.12 | 52 | Utilities | |
| Chevron Corporation | -0.12 | 0.08 | 0.22 | 83 | Energy | |
| ConocoPhillips Company | -0.11 | 0.08 | 0.21 | 76 | Energy |
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Build a portfolio that complements FDFIX
Add FDFIX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with FDFIX