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Fidelity Advisor Series Equity Growth Fund (FMFMX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jun 23, 2026

The fund normally invests at least 80% of its assets in equity securities. It normally invests primarily in common stocks. The fund invests in companies that Fidelity Management & Research Company LLC (FMR) believes have above-average growth potential (stocks of these companies are often called "growth" stocks). The advisor uses fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments.

Looking to diversify beyond FMFMX? The mutual funds below have the lowest correlation with FMFMX — 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 FMFMX.

Best Diversifiers for FMFMX

1 mutual funds have low correlation with FMFMX (below 0.3), 0 of which are negatively correlated. The least correlated is Western Asset Municipal High Income Fund (STXAX) (High Yield Muni) with a 1Y correlation of 0.11, roughly unchanged from 0.09 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
STXAX
Western Asset Municipal High Income Fund0.110.080.09
67
High Yield MuniFMFMX vs STXAX
BPTRX
Baron Partners Fund0.480.580.68
72
Large Cap Growth EquitiesFMFMX vs BPTRX
IOLZX
ICON Equity Fund0.640.620.72
84
Large Cap Growth EquitiesFMFMX vs IOLZX
VTMGX
Vanguard Developed Markets Index Fund Admiral Shar...0.690.680.73
61
Foreign Large Cap EquitiesFMFMX vs VTMGX
ADX
Adams Diversified Equity Fund, Inc.0.730.790.86
67
Large Cap Blend EquitiesFMFMX vs ADX
See all 41 diversifiers for FMFMX

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from FMFMX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FMFMX and solid risk/return profiles. The least correlated is Seagate Technology plc (STX) (Technology) with a 1Y correlation of 0.49, roughly unchanged from 0.56 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
STX
Seagate Technology plc0.490.500.56
99
Technology

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