Looking to diversify beyond FDFRX? The mutual funds below have the lowest correlation with FDFRX — 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 FDFRX.
Best Diversifiers for FDFRX
0 mutual funds have low correlation with FDFRX (below 0.3), 0 of which are negatively correlated. The least correlated is Dimensional Retirement Income Fund (TDIFX) (Target Retirement Date) with a 1Y correlation of 0.74, roughly unchanged from 0.75 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Dimensional Retirement Income Fund | 0.74 | 0.78 | 0.75 | 83 | Target Retirement Date | FDFRX vs TDIFX | |
| Fidelity Select Semiconductors Portfolio | 0.75 | 0.74 | 0.77 | 97 | Semiconductors, Technology Equities | FDFRX vs FSELX | |
| Prudential Day One Income Fund | 0.80 | 0.81 | 0.83 | 85 | Target Retirement Date | FDFRX vs PDAHX | |
| Fidelity Freedom Index Income Fund Institutional P... | 0.82 | 0.75 | 0.71 | 78 | Target Retirement Date | FDFRX vs FFGZX | |
| Fidelity Freedom Index Income Fund Investor Class | 0.82 | 0.74 | 0.71 | 77 | Target Retirement Date | FDFRX vs FIKFX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FDFRX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FDFRX and solid risk/return profiles. The least correlated is The Coca-Cola Company (KO) (Consumer Defensive) with a 1Y correlation of -0.03, down from 0.23 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Coca-Cola Company | -0.03 | 0.09 | 0.23 | 66 | Consumer Defensive | |
| Apple Inc | 0.41 | 0.45 | 0.57 | 89 | Technology | |
| JPMorgan Chase & Co. | 0.50 | 0.50 | 0.58 | 59 | Financial Services | |
| Amazon.com, Inc | 0.55 | 0.57 | 0.61 | 60 | Consumer Cyclical |
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