Looking to diversify beyond FMNDX? The mutual funds below have historically moved differently from FMNDX, 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 FMNDX
25 mutual funds have low correlation with FMNDX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Small Cap Index Fund (FSSNX) (Small Cap Blend Equities) with a 1Y correlation of 0.05, roughly unchanged from 0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Small Cap Index Fund | 0.05 | 0.11 | 0.07 | 84 | Small Cap Blend Equities | FMNDX vs FSSNX | |
| T. Rowe Price Ultra Short-Term Bond Fund | 0.05 | 0.27 | 0.28 | 98 | Ultrashort Bond | FMNDX vs TRBUX | |
| DFA California Municipal Real Return Portfolio | 0.06 | 0.13 | 0.17 | 88 | Municipal Bonds | FMNDX vs DCARX | |
| Fidelity Select Semiconductors Portfolio | 0.09 | 0.06 | 0.03 | 82 | Semiconductors, Technology Equities | FMNDX vs FSELX | |
| Fidelity Mid Cap Index Fund | 0.10 | 0.14 | 0.08 | 67 | Mid Cap Blend Equities | FMNDX vs FSMDX |
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