Looking to diversify beyond FDSCX? The mutual funds below have historically moved differently from FDSCX, 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 FDSCX
0 mutual funds have low correlation with FDSCX (below 0.3), 0 of which are negatively correlated. The least correlated is T. Rowe Price Health Sciences Fund (PRHSX) (Health & Biotech Equities) with a 1Y correlation of 0.46, down from 0.67 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| T. Rowe Price Health Sciences Fund | 0.46 | 0.61 | 0.67 | 74 | Health & Biotech Equities | FDSCX vs PRHSX | |
| Fidelity OTC Portfolio | 0.62 | 0.62 | 0.71 | 76 | Large Cap Growth Equities | FDSCX vs FOCPX | |
| Fidelity Emerging Markets Index Fund | 0.62 | 0.56 | 0.59 | 62 | Emerging Markets Equities | FDSCX vs FPADX | |
| Fidelity International Value Fund | 0.66 | 0.66 | 0.70 | 77 | Foreign Large Cap Equities | FDSCX vs FIVLX | |
| Fidelity Select Semiconductors Portfolio | 0.66 | 0.61 | 0.68 | 80 | Semiconductors, Technology Equities | FDSCX vs FSELX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FDSCX, 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 Realty Income Corporation (O) (Real Estate) with a 1Y correlation of 0.11, down from 0.34 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Realty Income Corporation | 0.11 | 0.23 | 0.34 | 77 | Real Estate | |
| Berkshire Hathaway Inc. | 0.12 | 0.33 | 0.45 | 61 | Financial Services | |
| NVIDIA Corporation | 0.36 | 0.37 | 0.51 | 56 | Technology |
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