Looking to diversify beyond FJPNX? The mutual funds below have historically moved differently from FJPNX, 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 FJPNX
0 mutual funds have low correlation with FJPNX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Low-Priced Stock Fund (FLPSX) (Mid Cap Value Equities) with a 1Y correlation of 0.58, roughly unchanged from 0.64 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Low-Priced Stock Fund | 0.58 | 0.61 | 0.64 | 77 | Mid Cap Value Equities | FJPNX vs FLPSX | |
| Fidelity Select Technology Portfolio | 0.60 | 0.55 | 0.60 | 72 | Technology Equities | FJPNX vs FSPTX | |
| Fidelity Small Cap Index Fund | 0.62 | 0.59 | 0.61 | 79 | Small Cap Blend Equities | FJPNX vs FSSNX | |
| Fidelity Select Semiconductors Portfolio | 0.64 | 0.55 | 0.59 | 80 | Semiconductors, Technology Equities | FJPNX vs FSELX | |
| Fidelity China Region Fund | 0.64 | 0.55 | 0.55 | 84 | China Equities, Asia Pacific Equities | FJPNX vs FHKCX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FJPNX, 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 Berkshire Hathaway Inc. (BRK-B) (Financial Services) with a 1Y correlation of 0.02, down from 0.32 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Berkshire Hathaway Inc. | 0.02 | 0.23 | 0.32 | 61 | Financial Services | |
| Mitsubishi Corp | 0.34 | 0.45 | 0.40 | 84 | Industrials | |
| Mitsui & Company Ltd | 0.48 | 0.57 | 0.54 | 80 | Industrials |
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