Looking to diversify beyond FHDFX? The mutual funds below have historically moved differently from FHDFX, 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 FHDFX
0 mutual funds have low correlation with FHDFX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Select Semiconductors Portfolio (FSELX) (Semiconductors) with a 1Y correlation of 0.77, roughly unchanged from 0.78 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Semiconductors Portfolio | 0.77 | 0.74 | 0.78 | 80 | Semiconductors, Technology Equities | FHDFX vs FSELX | |
| Dimensional Retirement Income Fund | 0.80 | 0.79 | 0.76 | 81 | Target Retirement Date | FHDFX vs TDIFX | |
| Prudential Day One Income Fund | 0.84 | 0.81 | 0.83 | 85 | Target Retirement Date | FHDFX vs PDAHX | |
| Fidelity Freedom Index Income Fund Institutional P... | 0.86 | 0.76 | 0.73 | 70 | Target Retirement Date | FHDFX vs FFGZX | |
| Fidelity Freedom Index Retirement Fund Investor Cl... | 0.87 | 0.76 | 0.73 | 73 | Target Retirement Date | FHDFX vs FIKFX |
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