Looking to diversify beyond FIVLX? The mutual funds below have historically moved differently from FIVLX, 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 FIVLX
2 mutual funds have low correlation with FIVLX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Conservative Income Bond Institutional Class (FCNVX) (Ultrashort Bond) with a 1Y correlation of 0.11, roughly unchanged from 0.01 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Conservative Income Bond Institutional Cl... | 0.11 | 0.06 | 0.01 | 100 | Ultrashort Bond | FIVLX vs FCNVX | |
| Fidelity Select Health Care Services Portfolio | 0.22 | 0.25 | 0.36 | 68 | Health & Biotech Equities | FIVLX vs FSHCX | |
| Fidelity Limited Term Bond Fund | 0.37 | 0.25 | 0.19 | 73 | Total Bond Market | FIVLX vs FJRLX | |
| Fidelity Select Biotechnology Portfolio | 0.41 | 0.46 | 0.46 | 94 | Health & Biotech Equities | FIVLX vs FBIOX | |
| Fidelity New Markets Income Fund | 0.46 | 0.37 | 0.38 | 90 | Emerging Markets Bonds | FIVLX vs FNMIX |
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