Looking to diversify beyond FMDGX? The mutual funds below have the lowest correlation with FMDGX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from FMDGX.
Best Diversifiers for FMDGX
1 mutual funds have low correlation with FMDGX (below 0.3), 0 of which are negatively correlated. The least correlated is BlackRock Low Duration Bond Portfolio (BFMSX) (Short-Term Bond) with a 1Y correlation of 0.22, roughly unchanged from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BlackRock Low Duration Bond Portfolio | 0.22 | 0.15 | 0.16 | 73 | Short-Term Bond | FMDGX vs BFMSX | |
| BlackRock High Yield K | 0.54 | 0.53 | 0.54 | 81 | High Yield Bonds | FMDGX vs BRHYX | |
| Fidelity Select Semiconductors Portfolio | 0.59 | 0.68 | 0.75 | 97 | Semiconductors, Technology Equities | FMDGX vs FSELX | |
| Northern Income Equity Fund | 0.65 | 0.79 | 0.82 | 83 | Large Cap Value Equities | FMDGX vs NOIEX | |
| Fidelity Total International Index Fund | 0.66 | 0.68 | 0.71 | 58 | Foreign Large Cap Equities | FMDGX vs FTIHX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FMDGX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FMDGX and solid risk/return profiles. The least correlated is Exxon Mobil Corporation (XOM) (Energy) with a 1Y correlation of -0.14, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Exxon Mobil Corporation | -0.14 | 0.07 | 0.18 | 85 | Energy | |
| Walmart Inc. | -0.02 | 0.19 | 0.26 | 63 | Consumer Defensive | |
| CVS Health Corporation | 0.08 | 0.11 | 0.19 | 80 | Healthcare | |
| Eli Lilly and Company | 0.18 | 0.27 | 0.26 | 72 | Healthcare | |
| Casey's General Stores, Inc. | 0.22 | 0.35 | 0.37 | 94 | Consumer Defensive |
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