Looking to diversify beyond FLAPX? The mutual funds below have historically moved differently from FLAPX, 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 FLAPX
4 mutual funds have low correlation with FLAPX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Flex Conservative Income Municipal Bond Fund (FUEMX) (Municipal Bonds) with a 1Y correlation of 0.05, roughly unchanged from 0.04 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Flex Conservative Income Municipal Bond F... | 0.05 | 0.07 | 0.04 | 98 | Municipal Bonds | FLAPX vs FUEMX | |
| Fidelity SAI Low Duration Income Fund | 0.10 | 0.08 | 0.05 | 99 | Ultrashort Bond | FLAPX vs FZOLX | |
| Fidelity Flex Conservative Income Bond Fund | 0.13 | 0.08 | 0.07 | 99 | Total Bond Market | FLAPX vs FJTDX | |
| Fidelity Flex Municipal Income Fund | 0.27 | 0.17 | 0.14 | 69 | Municipal Bonds | FLAPX vs FUENX | |
| Fidelity Select Semiconductors Portfolio | 0.58 | 0.59 | 0.68 | 82 | Semiconductors, Technology Equities | FLAPX vs FSELX |
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