Looking to diversify beyond FMHTX? The mutual funds below have historically moved differently from FMHTX, 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 FMHTX
16 mutual funds have low correlation with FMHTX (below 0.3), 1 of which are negatively correlated. The least correlated is DFA California Municipal Real Return Portfolio (DCARX) (Municipal Bonds) with a 1Y correlation of -0.01, down from 0.22 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| DFA California Municipal Real Return Portfolio | -0.01 | 0.17 | 0.22 | 89 | Municipal Bonds | FMHTX vs DCARX | |
| DFA Municipal Real Return Portfolio | 0.05 | 0.22 | 0.25 | 92 | Municipal Bonds | FMHTX vs DMREX | |
| Fidelity Select Semiconductors Portfolio | 0.06 | 0.04 | 0.07 | 80 | Semiconductors, Technology Equities | FMHTX vs FSELX | |
| Fidelity ZERO Large Cap Index Fund | 0.19 | 0.15 | 0.13 | 54 | Large Cap Blend Equities | FMHTX vs FNILX | |
| Fidelity ZERO Total Market Index Fund | 0.20 | 0.16 | 0.13 | 59 | Large Cap Blend Equities | FMHTX vs FZROX |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FMHTX, 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 Nuveen AMT-Free Municipal Credit Income Fund (NVG) (Financial Services) with a 1Y correlation of 0.48, roughly unchanged from 0.49 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Nuveen AMT-Free Municipal Credit Income Fund | 0.48 | 0.53 | 0.49 | 76 | Financial Services |
Build a portfolio that complements FMHTX
Add FMHTX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with FMHTX