Looking to diversify beyond FGWMX? The mutual funds below have historically moved differently from FGWMX, 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 FGWMX
1 mutual funds have low correlation with FGWMX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Select Semiconductors Portfolio (FSELX) (Semiconductors) with a 1Y correlation of 0.30, roughly unchanged from 0.26 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Semiconductors Portfolio | 0.30 | 0.20 | 0.26 | 80 | Semiconductors, Technology Equities | FGWMX vs FSELX | |
| Fidelity ZERO Large Cap Index Fund | 0.43 | 0.33 | 0.36 | 59 | Large Cap Blend Equities | FGWMX vs FNILX | |
| Fidelity 500 Index Fund | 0.43 | 0.33 | 0.35 | 64 | S&P 500 | FGWMX vs FXAIX | |
| Fidelity ZERO Total Market Index Fund | 0.43 | 0.34 | 0.36 | 64 | Large Cap Blend Equities | FGWMX vs FZROX | |
| Morgan Stanley Emerging Markets Domestic Fund | 0.44 | 0.38 | 0.40 | 57 | Emerging Markets Bonds | FGWMX vs EDD |
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