Looking to diversify beyond FFIDX? The mutual funds below have historically moved differently from FFIDX, 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 FFIDX
2 mutual funds have low correlation with FFIDX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Conservative Income Bond Institutional Class (FCNVX) (Ultrashort Bond) with a 1Y correlation of 0.09, roughly unchanged from 0.02 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Conservative Income Bond Institutional Cl... | 0.09 | 0.04 | 0.02 | 100 | Ultrashort Bond | FFIDX vs FCNVX | |
| Fidelity Short-Term Treasury Bond Index Fund | 0.22 | 0.07 | 0.07 | 55 | Short-Term Bond, Government Bonds | FFIDX vs FUMBX | |
| Fidelity New Markets Income Fund | 0.39 | 0.28 | 0.32 | 90 | Emerging Markets Bonds | FFIDX vs FNMIX | |
| Fidelity China Region Fund | 0.53 | 0.52 | 0.52 | 84 | China Equities, Asia Pacific Equities | FFIDX vs FHKCX | |
| Fidelity Select Semiconductors Portfolio | 0.54 | 0.72 | 0.78 | 80 | Semiconductors, Technology Equities | FFIDX 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 FFIDX, 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 CF Industries Holdings, Inc. (CF) (Basic Materials) with a 1Y correlation of -0.22, down from 0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| CF Industries Holdings, Inc. | -0.22 | 0.01 | 0.10 | 72 | Basic Materials | |
| ConocoPhillips Company | -0.20 | 0.01 | 0.15 | 72 | Energy | |
| PepsiCo, Inc. | -0.06 | 0.01 | 0.19 | 50 | Consumer Defensive | |
| Realty Income Corporation | -0.03 | 0.02 | 0.22 | 77 | Real Estate | |
| Nutrien Ltd. | -0.03 | 0.10 | 0.21 | 62 | Basic Materials |
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