Looking to diversify beyond FMCAX? The mutual funds below have historically moved differently from FMCAX, 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 FMCAX
0 mutual funds have low correlation with FMCAX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Select Semiconductors Portfolio (FSELX) (Semiconductors) with a 1Y correlation of 0.65, roughly unchanged from 0.67 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Semiconductors Portfolio | 0.65 | 0.60 | 0.67 | 80 | Semiconductors, Technology Equities | FMCAX vs FSELX | |
| Victory RS Investors Fund | 0.69 | 0.79 | 0.84 | 73 | Mid Cap Blend Equities | FMCAX vs RSINX | |
| 13D Activist Fund | 0.69 | 0.80 | 0.86 | 78 | Mid Cap Blend Equities | FMCAX vs DDDIX | |
| Fidelity International Index Fund | 0.70 | 0.68 | 0.73 | 70 | Foreign Large Cap Equities | FMCAX vs FSPSX | |
| Gabelli Value 25 Fund | 0.70 | 0.80 | 0.86 | 80 | Mid Cap Blend Equities | FMCAX vs GABVX |
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