Looking to diversify beyond FIPDX? The mutual funds below have the lowest correlation with FIPDX — 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 FIPDX.
Best Diversifiers for FIPDX
82 mutual funds have low correlation with FIPDX (below 0.3), 3 of which are negatively correlated. The least correlated is Fidelity Select Energy Portfolio (FSENX) (Energy Equities) with a 1Y correlation of -0.15, down from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | -0.15 | 0.02 | 0.03 | 62 | Energy Equities | FIPDX vs FSENX | |
| Fidelity SAI Inflation-Focused | -0.14 | -0.03 | 0.13 | 54 | Commodities | FIPDX vs FIFGX | |
| Fidelity Floating Rate High Income Fund | -0.09 | 0.05 | 0.07 | 93 | Bank Loan | FIPDX vs FFRHX | |
| AQR Long-Short Equity Fund Class N | 0.01 | -0.04 | -0.06 | 58 | Long-Short, Actively Managed | FIPDX vs QLENX | |
| AQR Long-Short Equity Fund | 0.01 | -0.04 | -0.06 | 61 | Long-Short | FIPDX vs QLEIX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FIPDX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FIPDX and solid risk/return profiles. The least correlated is ConocoPhillips Company (COP) (Energy) with a 1Y correlation of -0.20, down from -0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| ConocoPhillips Company | -0.20 | -0.04 | -0.01 | 66 | Energy | |
| Exxon Mobil Corporation | -0.14 | -0.01 | 0.01 | 75 | Energy | |
| Chevron Corporation | -0.14 | -0.01 | 0.02 | 70 | Energy | |
| Energy Transfer LP | -0.13 | 0.01 | 0.02 | 84 | Energy | |
| Devon Energy Corporation | -0.11 | -0.00 | 0.02 | 72 | Energy |
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Build a portfolio that complements FIPDX
Add FIPDX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with FIPDX