Looking to diversify beyond FKISX? The mutual funds below have historically moved differently from FKISX, 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 FKISX
13 mutual funds have low correlation with FKISX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Select Semiconductors Portfolio (FSELX) (Semiconductors) with a 1Y correlation of 0.13, roughly unchanged from 0.08 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Semiconductors Portfolio | 0.13 | 0.05 | 0.08 | 80 | Semiconductors, Technology Equities | FKISX vs FSELX | |
| DFA Short Term Municipal Bond Portfolio | 0.22 | 0.27 | 0.37 | 100 | Municipal Bonds | FKISX vs DFSMX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 0.23 | 0.22 | 0.20 | 99 | Municipal Bonds | FKISX vs TFCYX | |
| Fidelity ZERO Large Cap Index Fund | 0.25 | 0.17 | 0.14 | 59 | Large Cap Blend Equities | FKISX vs FNILX | |
| Fidelity 500 Index Fund | 0.25 | 0.16 | 0.14 | 64 | S&P 500 | FKISX vs FXAIX |
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