Looking to diversify beyond FHRDX? The mutual funds below have historically moved differently from FHRDX, 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 FHRDX
0 mutual funds have low correlation with FHRDX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Select Semiconductors Portfolio (FSELX) (Semiconductors) with a 1Y correlation of 0.61, up from 0.50 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Semiconductors Portfolio | 0.61 | 0.49 | 0.50 | 80 | Semiconductors, Technology Equities | FHRDX vs FSELX | |
| Fidelity ZERO Large Cap Index Fund | 0.76 | 0.66 | 0.63 | 54 | Large Cap Blend Equities | FHRDX vs FNILX | |
| Fidelity ZERO Total Market Index Fund | 0.78 | 0.67 | 0.64 | 59 | Large Cap Blend Equities | FHRDX vs FZROX | |
| Fidelity Total Market Index Fund | 0.78 | 0.67 | 0.63 | 58 | Large Cap Blend Equities | FHRDX vs FSKAX | |
| Voya Target Retirement 2040 Fund | 0.78 | 0.73 | 0.71 | 76 | Target Retirement Date | FHRDX vs IRSOX |
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