Looking to diversify beyond FJRLX? The mutual funds below have historically moved differently from FJRLX, 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 FJRLX
5 mutual funds have low correlation with FJRLX (below 0.3), 1 of which are negatively correlated. The least correlated is Fidelity Select Energy Portfolio (FSENX) (Energy Equities) with a 1Y correlation of -0.31, down from -0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | -0.31 | -0.12 | -0.09 | 87 | Energy Equities | FJRLX vs FSENX | |
| Fidelity Select Semiconductors Portfolio | 0.12 | 0.04 | 0.06 | 80 | Semiconductors, Technology Equities | FJRLX vs FSELX | |
| Fidelity Strategic Real Return Fund | 0.13 | 0.28 | 0.27 | 95 | Diversified Portfolio | FJRLX vs FSRRX | |
| Fidelity Floating Rate High Income Fund | 0.16 | 0.16 | 0.17 | 95 | Bank Loan | FJRLX vs FFRHX | |
| JPMorgan Strategic Income Opportunities Fund Class... | 0.25 | -0.12 | -0.22 | 99 | Total Bond Market | FJRLX vs JSOSX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FJRLX, 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 F.N.B. Corporation (FNB) (Financial Services) with a 1Y correlation of 0.21, up from 0.02 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| F.N.B. Corporation | 0.21 | 0.09 | 0.02 | 75 | Financial Services |
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