Looking to diversify beyond FITLX? The mutual funds below have historically moved differently from FITLX, 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 FITLX
2 mutual funds have low correlation with FITLX (below 0.3), 1 of which are negatively correlated. The least correlated is Fidelity Select Energy Portfolio (FSENX) (Energy Equities) with a 1Y correlation of -0.10, down from 0.28 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | -0.10 | 0.15 | 0.28 | 87 | Energy Equities | FITLX vs FSENX | |
| Fidelity Floating Rate High Income Fund | 0.28 | 0.30 | 0.32 | 95 | Bank Loan | FITLX vs FFRHX | |
| Goldman Sachs Strategic Volatility Premium Fund | 0.35 | 0.16 | 0.14 | 97 | Large Cap Blend Equities | FITLX vs SVPFX | |
| Delaware Healthcare Fund | 0.38 | 0.47 | 0.57 | 77 | Health & Biotech Equities | FITLX vs DLHIX | |
| North Square Preferred and Income Securities Fund | 0.49 | 0.33 | 0.40 | 59 | Preferred Stock | FITLX vs ORDNX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FITLX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is ConocoPhillips Company (COP) (Energy) with a 1Y correlation of -0.19, down from 0.17 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| ConocoPhillips Company | -0.19 | 0.03 | 0.17 | 72 | Energy | |
| Walmart Inc. | -0.09 | 0.16 | 0.27 | 62 | Consumer Defensive | |
| Berkshire Hathaway Inc. Class A | -0.00 | 0.24 | 0.39 | 58 | Financial Services | |
| Berkshire Hathaway Inc. | 0.03 | 0.28 | 0.46 | 61 | Financial Services | |
| Asics Corp ADR | 0.32 | 0.33 | 0.23 | 66 | Consumer Cyclical |
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