Looking to diversify beyond FIWAX? The mutual funds below have historically moved differently from FIWAX, 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 FIWAX
14 mutual funds have low correlation with FIWAX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Select Semiconductors Portfolio (FSELX) (Semiconductors) with a 1Y correlation of 0.10, 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 Select Semiconductors Portfolio | 0.10 | 0.06 | 0.07 | 80 | Semiconductors, Technology Equities | FIWAX vs FSELX | |
| Fidelity 500 Index Fund | 0.20 | 0.16 | 0.13 | 64 | S&P 500 | FIWAX vs FXAIX | |
| Fidelity Total Market Index Fund | 0.20 | 0.17 | 0.13 | 63 | Large Cap Blend Equities | FIWAX vs FSKAX | |
| DFA Short Term Municipal Bond Portfolio | 0.21 | 0.28 | 0.39 | 100 | Municipal Bonds | FIWAX vs DFSMX | |
| Fidelity ZERO Large Cap Index Fund | 0.21 | 0.17 | 0.14 | 59 | Large Cap Blend Equities | FIWAX vs FNILX |
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