Looking to diversify beyond FMIJX? The mutual funds below have historically moved differently from FMIJX, 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 FMIJX
2 mutual funds have low correlation with FMIJX (below 0.3), 1 of which are negatively correlated. The least correlated is Fidelity Select Energy Portfolio (FSENX) (Energy Equities) with a 1Y correlation of -0.10, down from 0.30 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | -0.10 | 0.19 | 0.30 | 87 | Energy Equities | FMIJX vs FSENX | |
| Fidelity Floating Rate High Income Fund | 0.16 | 0.26 | 0.30 | 95 | Bank Loan | FMIJX vs FFRHX | |
| Fidelity Select Technology Portfolio | 0.33 | 0.44 | 0.57 | 72 | Technology Equities | FMIJX vs FSPTX | |
| Kopernik International Fund | 0.39 | 0.31 | 0.43 | 66 | Foreign Large Cap Equities | FMIJX vs KGIIX | |
| Federated Hermes International Strategic Value Div... | 0.42 | 0.45 | 0.57 | 88 | Foreign Large Cap Equities | FMIJX vs IVFIX |
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