Looking to diversify beyond FHODX? The mutual funds below have historically moved differently from FHODX, 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 FHODX
0 mutual funds have low correlation with FHODX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Select Semiconductors Portfolio (FSELX) (Semiconductors) with a 1Y correlation of 0.67, roughly unchanged from 0.66 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Semiconductors Portfolio | 0.67 | 0.61 | 0.66 | 80 | Semiconductors, Technology Equities | FHODX vs FSELX | |
| Fidelity ZERO Large Cap Index Fund | 0.84 | 0.80 | 0.80 | 59 | Large Cap Blend Equities | FHODX vs FNILX | |
| Voya Target Retirement 2040 Fund | 0.85 | 0.86 | 0.87 | 75 | Target Retirement Date | FHODX vs IRSOX | |
| Dimensional 2060 Target Date Retirement Income Fun... | 0.86 | 0.84 | 0.85 | 77 | Target Retirement Date | FHODX vs DRILX | |
| Fidelity 500 Index Fund | 0.86 | 0.79 | 0.80 | 64 | S&P 500 | FHODX vs FXAIX |
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