Looking to diversify beyond FHYDX? The mutual funds below have the lowest correlation with FHYDX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from FHYDX.
Best Diversifiers for FHYDX
0 mutual funds have low correlation with FHYDX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Advisor Strategic Income Fund Class Z (FIWDX) (Total Bond Market) with a 1Y correlation of 0.72, up from 0.58 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Advisor Strategic Income Fund Class Z | 0.72 | 0.65 | 0.58 | 89 | Total Bond Market | FHYDX vs FIWDX | |
| Fidelity Select Semiconductors Portfolio | 0.74 | 0.74 | 0.77 | 97 | Semiconductors, Technology Equities | FHYDX vs FSELX | |
| Dimensional Retirement Income Fund | 0.76 | 0.79 | 0.76 | 83 | Target Retirement Date | FHYDX vs TDIFX | |
| Prudential Day One Income Fund | 0.83 | 0.83 | 0.83 | 85 | Target Retirement Date | FHYDX vs PDAHX | |
| Fidelity Freedom Index Income Fund Institutional P... | 0.84 | 0.77 | 0.72 | 78 | Target Retirement Date | FHYDX vs FFGZX |
See all 58 diversifiers for FHYDX
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