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
5 mutual funds have low correlation with FMSDX (below 0.3), 1 of which are negatively correlated. The least correlated is SEI Institutional Managed Trust Multi-Asset Inflation Managed Fund (SIFAX) (Diversified Portfolio) with a 1Y correlation of -0.10, down from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SEI Institutional Managed Trust Multi-Asset Inflat... | -0.10 | 0.08 | 0.19 | 73 | Diversified Portfolio | FMSDX vs SIFAX | |
| MH Elite Small Cap Fund of Funds Fund | 0.03 | 0.17 | 0.46 | 64 | Diversified Portfolio | FMSDX vs MHELX | |
| Fidelity Conservative Income Bond Institutional Cl... | 0.21 | 0.19 | 0.17 | 99 | Total Bond Market | FMSDX vs FCNVX | |
| AQR Alternative Risk Premia Fund Class N | 0.24 | 0.10 | -0.09 | 97 | Multistrategy | FMSDX vs QRPNX | |
| Fidelity Floating Rate High Income Fund | 0.26 | 0.32 | 0.41 | 92 | High Yield Bonds | FMSDX vs FFRHX |
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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 NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of 0.41, down from 0.53 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | 0.41 | 0.45 | 0.53 | 80 | Technology | |
| Annaly Capital Management, Inc. | 0.43 | 0.52 | 0.58 | 76 | Real Estate | |
| Amazon.com, Inc | 0.43 | 0.48 | 0.53 | 62 | Consumer Cyclical |
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