Looking to diversify beyond FIDSX? The mutual funds below have the lowest correlation with FIDSX — 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 FIDSX.
Best Diversifiers for FIDSX
5 mutual funds have low correlation with FIDSX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Select Energy Portfolio (FSENX) (Energy Equities) with a 1Y correlation of 0.07, down from 0.45 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | 0.07 | 0.34 | 0.45 | 79 | Energy Equities | FIDSX vs FSENX | |
| Fidelity Natural Resources Fund | 0.15 | 0.37 | 0.49 | 87 | Energy Equities | FIDSX vs FNARX | |
| BlackRock Global Long/Short Equity Fund Class I | 0.24 | 0.12 | 0.08 | 92 | Long-Short | FIDSX vs BDMIX | |
| AlphaSimplex Managed Futures Strategy Fund Class Y | 0.25 | 0.17 | 0.12 | 67 | Systematic Trend | FIDSX vs ASFYX | |
| Fidelity Select Semiconductors Portfolio | 0.26 | 0.35 | 0.47 | 97 | Semiconductors, Technology Equities | FIDSX vs FSELX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FIDSX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FIDSX and solid risk/return profiles. The least correlated is Elbit Systems Ltd (ESLT) (Industrials) with a 1Y correlation of 0.07, down from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Elbit Systems Ltd | 0.07 | 0.16 | 0.21 | 88 | Industrials | |
| Eldorado Gold Corporation | 0.10 | 0.10 | 0.19 | 66 | Basic Materials | |
| Eversource Energy | 0.12 | 0.22 | 0.23 | 51 | Utilities | |
| CrowdStrike Holdings, Inc. | 0.16 | 0.28 | 0.31 | 70 | Technology | |
| Endeavour Silver Corp. | 0.18 | 0.19 | 0.23 | 80 | Basic Materials |
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Build a portfolio that complements FIDSX
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