Looking to diversify beyond FDFIX? The mutual funds below have historically moved differently from FDFIX, 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 FDFIX
10 mutual funds have low correlation with FDFIX (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 -0.08, down from 0.32 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | -0.08 | 0.18 | 0.32 | 87 | Energy Equities | FDFIX vs FSENX | |
| Vanguard Short-Term Inflation-Protected Securities... | 0.07 | 0.09 | 0.14 | 91 | Inflation-Protected Bonds | FDFIX vs VTAPX | |
| Fidelity Flex Conservative Income Municipal Bond F... | 0.08 | 0.07 | 0.03 | 99 | Municipal Bonds | FDFIX vs FUEMX | |
| Fidelity SAI Low Duration Income Fund | 0.10 | 0.06 | 0.04 | 99 | Ultrashort Bond | FDFIX vs FZOLX | |
| Fidelity Flex Conservative Income Bond Fund | 0.13 | 0.08 | 0.07 | 100 | Total Bond Market | FDFIX vs FJTDX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FDFIX, 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 Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.25, down from 0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.25 | -0.03 | 0.10 | 66 | Consumer Defensive | |
| Chubb Limited | -0.22 | 0.05 | 0.26 | 89 | Financial Services | |
| Duke Energy Corporation | -0.22 | -0.03 | 0.10 | 56 | Utilities | |
| The Coca-Cola Company | -0.22 | 0.02 | 0.22 | 90 | Consumer Defensive | |
| Occidental Petroleum Corporation | -0.21 | 0.05 | 0.20 | 70 | Energy |
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