Looking to diversify beyond FDKVX? The mutual funds below have historically moved differently from FDKVX, 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 FDKVX
0 mutual funds have low correlation with FDKVX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Select Semiconductors Portfolio (FSELX) (Semiconductors) with a 1Y correlation of 0.79, roughly unchanged from 0.78 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Semiconductors Portfolio | 0.79 | 0.76 | 0.78 | 80 | Semiconductors, Technology Equities | FDKVX vs FSELX | |
| Dimensional Retirement Income Fund | 0.79 | 0.79 | 0.75 | 81 | Target Retirement Date | FDKVX vs TDIFX | |
| Dimensional 2015 Target Date Retirement Income Fun... | 0.81 | 0.73 | 0.67 | 53 | Target Retirement Date | FDKVX vs DRIQX | |
| MFS Lifetime Income Fund | 0.82 | 0.79 | 0.81 | 66 | Target Retirement Date | FDKVX vs MLLIX | |
| Prudential Day One Income Fund | 0.83 | 0.81 | 0.83 | 85 | Target Retirement Date | FDKVX vs PDAHX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FDKVX, 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 The Coca-Cola Company (KO) (Consumer Defensive) with a 1Y correlation of -0.18, down from 0.19 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Coca-Cola Company | -0.18 | 0.02 | 0.19 | 90 | Consumer Defensive | |
| TKO Group Holdings Inc. | 0.23 | 0.31 | 0.31 | 54 | Communication Services | |
| Sonos, Inc. | 0.34 | 0.44 | 0.52 | 66 | Technology | |
| Apple Inc | 0.39 | 0.44 | 0.57 | 89 | Technology | |
| Bank of America Corporation | 0.41 | 0.48 | 0.57 | 81 | Financial Services |
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