Looking to diversify beyond FMDGX? The mutual funds below have historically moved differently from FMDGX, 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 FMDGX
2 mutual funds have low correlation with FMDGX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Short-Term Bond Index Fund (FNSOX) (Total Bond Market) with a 1Y correlation of 0.23, up from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Short-Term Bond Index Fund | 0.23 | 0.12 | 0.12 | 61 | Total Bond Market | FMDGX vs FNSOX | |
| BlackRock Low Duration Bond Portfolio | 0.28 | 0.16 | 0.17 | 84 | Short-Term Bond | FMDGX vs BFMSX | |
| JOHCM International Opportunities Fund | 0.51 | 0.50 | 0.56 | 69 | Foreign Large Cap Equities | FMDGX vs JOPSX | |
| BlackRock High Yield K | 0.56 | 0.53 | 0.55 | 78 | High Yield Bonds | FMDGX vs BRHYX | |
| Fidelity OTC Portfolio | 0.65 | 0.68 | 0.76 | 76 | Large Cap Growth Equities | FMDGX vs FOCPX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FMDGX, 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 Exxon Mobil Corporation (XOM) (Energy) with a 1Y correlation of -0.21, down from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Exxon Mobil Corporation | -0.21 | 0.01 | 0.13 | 84 | Energy | |
| Walmart Inc. | -0.15 | 0.14 | 0.23 | 62 | Consumer Defensive | |
| CVS Health Corporation | -0.02 | 0.09 | 0.18 | 94 | Healthcare | |
| Berkshire Hathaway Inc. | 0.03 | 0.27 | 0.40 | 61 | Financial Services | |
| Casey's General Stores, Inc. | 0.10 | 0.29 | 0.35 | 94 | Consumer Defensive |
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