Looking to diversify beyond FIKGX? The mutual funds below have historically moved differently from FIKGX, 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 FIKGX
1 mutual funds have low correlation with FIKGX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Real Estate Income Fund (FRIFX) (REIT) with a 1Y correlation of 0.03, down from 0.32 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Real Estate Income Fund | 0.03 | 0.14 | 0.32 | 78 | REIT | FIKGX vs FRIFX | |
| ARK Venture Fund | 0.34 | 0.49 | — | 99 | Technology Equities | FIKGX vs ARKVX | |
| Gabelli Global Content & Connectivity Fund Class I | 0.40 | 0.45 | 0.56 | 58 | Technology Equities | FIKGX vs GTTIX | |
| Fidelity International Index Fund | 0.58 | 0.54 | 0.60 | 70 | Foreign Large Cap Equities | FIKGX vs FSPSX | |
| Hennessy Technology Fund | 0.66 | 0.77 | 0.83 | 52 | Technology Equities | FIKGX vs HTECX |
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