Looking to diversify beyond FECGX? The mutual funds below have historically moved differently from FECGX, 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 FECGX
3 mutual funds have low correlation with FECGX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Floating Rate High Income Fund (FFRHX) (Bank Loan) with a 1Y correlation of 0.20, down from 0.31 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Floating Rate High Income Fund | 0.20 | 0.26 | 0.31 | 95 | Bank Loan | FECGX vs FFRHX | |
| Fidelity Natural Resources Fund | 0.22 | 0.37 | 0.44 | 84 | Energy Equities | FECGX vs FNARX | |
| Fidelity Short-Term Bond Index Fund | 0.22 | 0.13 | 0.11 | 61 | Total Bond Market | FECGX vs FNSOX | |
| Fidelity New Markets Income Fund | 0.40 | 0.34 | 0.34 | 90 | Emerging Markets Bonds | FECGX vs FNMIX | |
| Federated Hermes MDT Small Cap Growth Fund | 0.45 | 0.65 | 0.81 | 71 | Small Cap Growth Equities | FECGX vs QISGX |
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