Looking to diversify beyond FIUIX? The mutual funds below have the lowest correlation with FIUIX — 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 FIUIX.
Best Diversifiers for FIUIX
8 mutual funds have low correlation with FIUIX (below 0.3), 1 of which are negatively correlated. The least correlated is T. Rowe Price Floating Rate Fund (PRFRX) (High Yield Bonds) with a 1Y correlation of -0.04, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| T. Rowe Price Floating Rate Fund | -0.04 | 0.13 | 0.13 | 96 | High Yield Bonds | FIUIX vs PRFRX | |
| Fidelity Select Pharmaceuticals Portfolio | 0.21 | 0.31 | 0.40 | 59 | Health & Biotech Equities | FIUIX vs FPHAX | |
| Franklin California Tax Free Income Fund | 0.21 | 0.22 | 0.16 | 68 | Municipal Bonds | FIUIX vs FKTFX | |
| Fidelity Select Technology Portfolio | 0.23 | 0.15 | 0.27 | 89 | Technology Equities | FIUIX vs FSPTX | |
| Fidelity Blue Chip Growth Fund | 0.28 | 0.20 | 0.31 | 73 | Large Cap Growth Equities | FIUIX vs FBGRX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FIUIX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FIUIX and solid risk/return profiles. The least correlated is Alphabet Inc. Class A (GOOGL) (Communication Services) with a 1Y correlation of 0.15, roughly unchanged from 0.23 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Alphabet Inc. Class A | 0.15 | 0.11 | 0.23 | 96 | Communication Services | |
| SkyWater Technology, Inc. | 0.20 | 0.09 | 0.13 | 95 | Technology | |
| Kinross Gold Corporation | 0.28 | 0.32 | 0.33 | 76 | Basic Materials |
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