Looking to diversify beyond FHMFX? The mutual funds below have historically moved differently from FHMFX, 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 FHMFX
4 mutual funds have low correlation with FHMFX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Select Semiconductors Portfolio (FSELX) (Semiconductors) with a 1Y correlation of 0.19, roughly unchanged from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Semiconductors Portfolio | 0.19 | 0.11 | 0.12 | 80 | Semiconductors, Technology Equities | FHMFX vs FSELX | |
| Fidelity Series Treasury Bill Index Fund | 0.23 | 0.22 | 0.24 | 100 | Ultrashort Bond | FHMFX vs FHQFX | |
| Fidelity Flex Conservative Income Bond Fund | 0.28 | 0.30 | 0.30 | 100 | Total Bond Market | FHMFX vs FJTDX | |
| Fidelity Conservative Income Bond Institutional Cl... | 0.28 | 0.36 | 0.33 | 100 | Ultrashort Bond | FHMFX vs FCNVX | |
| Fidelity 500 Index Fund | 0.36 | 0.25 | 0.20 | 64 | S&P 500 | FHMFX vs FXAIX |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements FHMFX
Add FHMFX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with FHMFX