Looking to diversify beyond FDIVX? The mutual funds below have the lowest correlation with FDIVX — 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 FDIVX.
Best Diversifiers for FDIVX
2 mutual funds have low correlation with FDIVX (below 0.3), 1 of which are negatively correlated. The least correlated is Vanguard Market Neutral Fund Investor Shares (VMNFX) (Long-Short) with a 1Y correlation of -0.01, roughly unchanged from -0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Market Neutral Fund Investor Shares | -0.01 | -0.01 | -0.03 | 85 | Long-Short | FDIVX vs VMNFX | |
| Fidelity Floating Rate High Income Fund | 0.23 | 0.27 | 0.33 | 92 | Bank Loan | FDIVX vs FFRHX | |
| BlackRock Global Long/Short Equity Fund Class I | 0.34 | 0.19 | 0.14 | 95 | Long-Short | FDIVX vs BDMIX | |
| Fidelity Select Pharmaceuticals Portfolio | 0.44 | 0.51 | 0.55 | 59 | Health & Biotech Equities | FDIVX vs FPHAX | |
| PIMCO RAE PLUS International Fund | 0.56 | 0.58 | 0.61 | 75 | Foreign Large Cap Equities | FDIVX vs PTSIX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FDIVX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FDIVX and solid risk/return profiles. The least correlated is Chevron Corporation (CVX) (Energy) with a 1Y correlation of -0.13, down from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chevron Corporation | -0.13 | 0.06 | 0.20 | 68 | Energy | |
| Murphy Oil Corporation | -0.10 | 0.09 | 0.23 | 72 | Energy | |
| Verizon Communications Inc. | -0.05 | 0.06 | 0.14 | 63 | Communication Services | |
| Walmart Inc. | -0.00 | 0.13 | 0.21 | 69 | Consumer Defensive | |
| Johnson & Johnson | 0.08 | 0.09 | 0.18 | 95 | Healthcare |
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Build a portfolio that complements FDIVX
Add FDIVX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with FDIVX