Looking to diversify beyond FMSDX? The mutual funds below have the lowest correlation with FMSDX — 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 FMSDX.
Best Diversifiers for FMSDX
4 mutual funds have low correlation with FMSDX (below 0.3), 1 of which are negatively correlated. The least correlated is MH Elite Small Cap Fund of Funds Fund (MHELX) (Diversified Portfolio) with a 1Y correlation of -0.01, down from 0.44 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MH Elite Small Cap Fund of Funds Fund | -0.01 | 0.14 | 0.44 | 75 | Diversified Portfolio | FMSDX vs MHELX | |
| Fidelity Conservative Income Bond Institutional Cl... | 0.24 | 0.20 | 0.18 | 99 | Total Bond Market | FMSDX vs FCNVX | |
| AQR Alternative Risk Premia Fund Class N | 0.24 | 0.11 | -0.09 | 96 | Multistrategy | FMSDX vs QRPNX | |
| Fidelity Floating Rate High Income Fund | 0.28 | 0.33 | 0.41 | 91 | Bank Loan | FMSDX vs FFRHX | |
| Fidelity Advisor Strategic Real Return Fund Class ... | 0.39 | 0.57 | 0.63 | 87 | Diversified Portfolio | FMSDX vs FIQDX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FMSDX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FMSDX and solid risk/return profiles. The least correlated is Annaly Capital Management, Inc. (NLY) (Real Estate) with a 1Y correlation of 0.42, down from 0.58 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Annaly Capital Management, Inc. | 0.42 | 0.52 | 0.58 | 81 | Real Estate | |
| NVIDIA Corporation | 0.45 | 0.47 | 0.55 | 70 | Technology | |
| Amazon.com, Inc | 0.48 | 0.49 | 0.54 | 52 | Consumer Cyclical |
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