Looking to diversify beyond FDSVX? The mutual funds below have historically moved differently from FDSVX, 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 FDSVX
3 mutual funds have low correlation with FDSVX (below 0.3), 0 of which are negatively correlated. The least correlated is T. Rowe Virginia Tax Free Bond Fund (PRVAX) (Municipal Bonds) with a 1Y correlation of 0.17, roughly unchanged from 0.11 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| T. Rowe Virginia Tax Free Bond Fund | 0.17 | 0.10 | 0.11 | 86 | Municipal Bonds | FDSVX vs PRVAX | |
| Fidelity Select Pharmaceuticals Portfolio | 0.23 | 0.40 | 0.48 | 92 | Health & Biotech Equities | FDSVX vs FPHAX | |
| Fidelity Floating Rate High Income Fund | 0.26 | 0.28 | 0.31 | 93 | Bank Loan | FDSVX vs FFRHX | |
| Permanent Portfolio Versatile Bond Portfolio | 0.39 | 0.28 | 0.28 | 71 | Short-Term Bond | FDSVX vs PRVBX | |
| Provident Trust Strategy Fund | 0.46 | 0.63 | 0.76 | 51 | Large Cap Growth Equities | FDSVX vs PROVX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FDSVX, 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 Occidental Petroleum Corporation (OXY) (Energy) with a 1Y correlation of -0.23, down from 0.16 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Occidental Petroleum Corporation | -0.23 | 0.01 | 0.16 | 68 | Energy | |
| McKesson Corporation | -0.12 | -0.02 | 0.10 | 62 | Healthcare | |
| Berkshire Hathaway Inc. | -0.11 | 0.17 | 0.36 | 61 | Financial Services | |
| HCA Healthcare, Inc. | -0.01 | 0.15 | 0.31 | 57 | Healthcare | |
| Visa Inc. | 0.07 | 0.28 | 0.46 | 55 | Financial Services |
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