Looking to diversify beyond FDSVX? The mutual funds below have the lowest correlation with FDSVX — 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 FDSVX.
Best Diversifiers for FDSVX
2 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 0.11, roughly unchanged from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| T. Rowe Virginia Tax Free Bond Fund | 0.11 | 0.10 | 0.10 | 86 | Municipal Bonds | FDSVX vs PRVAX | |
| Fidelity Floating Rate High Income Fund | 0.25 | 0.28 | 0.31 | 91 | Bank Loan | FDSVX vs FFRHX | |
| Emerald Insights Fund | 0.34 | 0.78 | 0.86 | 98 | Large Cap Growth Equities | FDSVX vs EFCNX | |
| Fidelity Select Pharmaceuticals Portfolio | 0.34 | 0.44 | 0.51 | 55 | Health & Biotech Equities | FDSVX vs FPHAX | |
| Permanent Portfolio Versatile Bond Portfolio | 0.36 | 0.28 | 0.28 | 84 | Short-Term Bond | FDSVX vs PRVBX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FDSVX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FDSVX and solid risk/return profiles. The least correlated is Cirrus Logic, Inc. (CRUS) (Technology) with a 1Y correlation of 0.26, down from 0.55 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cirrus Logic, Inc. | 0.26 | 0.46 | 0.55 | 88 | Technology | |
| Rivian Automotive, Inc. | 0.33 | 0.36 | 0.48 | 58 | Consumer Cyclical | |
| CrowdStrike Holdings, Inc. | 0.38 | 0.56 | 0.61 | 72 | Technology | |
| Apple Inc | 0.43 | 0.51 | 0.65 | 90 | Technology | |
| Oracle Corporation | 0.46 | 0.59 | 0.59 | 61 | Technology |
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