Looking to diversify beyond FIUIX? The mutual funds below have historically moved differently from FIUIX, 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 FIUIX
11 mutual funds have low correlation with FIUIX (below 0.3), 2 of which are negatively correlated. The least correlated is Fidelity SAI Inflation-Focused (FIFGX) (Commodities) with a 1Y correlation of -0.10, down from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity SAI Inflation-Focused | -0.10 | -0.00 | 0.12 | 79 | Commodities | FIUIX vs FIFGX | |
| T. Rowe Price Floating Rate Fund - Investor Class | -0.08 | 0.11 | 0.13 | 90 | High Yield Bonds | FIUIX vs PRFRX | |
| Fidelity Intermediate Municipal Income Fund | 0.13 | 0.21 | 0.17 | 57 | Municipal Bonds | FIUIX vs FLTMX | |
| Franklin California Tax Free Income Fund | 0.16 | 0.21 | 0.16 | 75 | Municipal Bonds | FIUIX vs FKTFX | |
| Fidelity Select Technology Portfolio | 0.19 | 0.14 | 0.27 | 72 | Technology Equities | FIUIX vs FSPTX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FIUIX, 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 Alphabet Inc. Class A (GOOGL) (Communication Services) with a 1Y correlation of 0.07, down from 0.21 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Alphabet Inc. Class A | 0.07 | 0.08 | 0.21 | 95 | Communication Services | |
| SkyWater Technology, Inc. | 0.21 | 0.09 | 0.14 | 96 | Technology | |
| Kinross Gold Corporation | 0.29 | 0.33 | 0.33 | 69 | Basic Materials |
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