Looking to diversify beyond FDIVX? The mutual funds below have historically moved differently from FDIVX, 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 FDIVX
2 mutual funds have low correlation with FDIVX (below 0.3), 0 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.
How candidates are selected| 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 | 97 | Long-Short | FDIVX vs VMNFX | |
| Fidelity Floating Rate High Income Fund | 0.21 | 0.25 | 0.33 | 95 | Bank Loan | FDIVX vs FFRHX | |
| Fidelity Select Pharmaceuticals Portfolio | 0.36 | 0.49 | 0.53 | 90 | Health & Biotech Equities | FDIVX vs FPHAX | |
| BlackRock Global Equity Market Neutral Fund Class ... | 0.37 | 0.21 | 0.15 | 97 | Equity Market Neutral | FDIVX vs BDMIX | |
| Federated Hermes International Strategic Value Div... | 0.39 | 0.50 | 0.62 | 88 | Foreign Large Cap Equities | FDIVX vs IVFIX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FDIVX, 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 Chevron Corporation (CVX) (Energy) with a 1Y correlation of -0.19, down from 0.18 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chevron Corporation | -0.19 | 0.03 | 0.18 | 80 | Energy | |
| Murphy Oil Corporation | -0.17 | 0.05 | 0.21 | 82 | Energy | |
| Verizon Communications Inc. | -0.13 | 0.03 | 0.12 | 66 | Communication Services | |
| Walmart Inc. | -0.05 | 0.10 | 0.19 | 62 | Consumer Defensive | |
| Johnson & Johnson | 0.00 | 0.07 | 0.16 | 97 | Healthcare |
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