Looking to diversify beyond FDVLX? The mutual funds below have historically moved differently from FDVLX, 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 FDVLX
2 mutual funds have low correlation with FDVLX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Select Energy Portfolio (FSENX) (Energy Equities) with a 1Y correlation of 0.07, down from 0.53 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | 0.07 | 0.40 | 0.53 | 87 | Energy Equities | FDVLX vs FSENX | |
| Fidelity Floating Rate High Income Fund | 0.19 | 0.28 | 0.34 | 93 | Bank Loan | FDVLX vs FFRHX | |
| Fidelity Select Pharmaceuticals Portfolio | 0.36 | 0.44 | 0.46 | 92 | Health & Biotech Equities | FDVLX vs FPHAX | |
| Fidelity Select Semiconductors Portfolio | 0.47 | 0.50 | 0.59 | 80 | Semiconductors, Technology Equities | FDVLX vs FSELX | |
| Fidelity OTC Portfolio Class K | 0.48 | 0.51 | 0.62 | 72 | Large Cap Growth Equities | FDVLX vs FOCKX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FDVLX, 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 Fomento Económico Mexicano, S.A.B. de C.V. (FMX) (Consumer Defensive) with a 1Y correlation of 0.18, down from 0.36 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Fomento Económico Mexicano, S.A.B. de C.V. | 0.18 | 0.29 | 0.36 | 92 | Consumer Defensive | |
| Berkshire Hathaway Inc. | 0.22 | 0.44 | 0.57 | 61 | Financial Services | |
| Apple Inc | 0.32 | 0.34 | 0.46 | 90 | Technology | |
| Taiwan Semiconductor Manufacturing Company Limited | 0.39 | 0.41 | 0.47 | 88 | Technology |
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