Looking to diversify beyond FITFX? The mutual funds below have historically moved differently from FITFX, 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 FITFX
4 mutual funds have low correlation with FITFX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Flex Conservative Income Bond Fund (FJTDX) (Total Bond Market) with a 1Y correlation of 0.09, roughly unchanged from 0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Flex Conservative Income Bond Fund | 0.09 | 0.08 | 0.07 | 100 | Total Bond Market | FITFX vs FJTDX | |
| Fidelity Flex Conservative Income Municipal Bond F... | 0.09 | 0.08 | 0.07 | 99 | Municipal Bonds | FITFX vs FUEMX | |
| Fidelity SAI Low Duration Income Fund | 0.14 | 0.08 | 0.08 | 99 | Ultrashort Bond | FITFX vs FZOLX | |
| Fidelity Flex Municipal Income Fund | 0.27 | 0.20 | 0.18 | 79 | Municipal Bonds | FITFX vs FUENX | |
| Baird Strategic Municipal Bond Fund | 0.34 | 0.25 | 0.22 | 88 | Municipal Bonds | FITFX vs BSNSX |
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