Looking to diversify beyond FNMIX? The mutual funds below have historically moved differently from FNMIX, 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 FNMIX
2 mutual funds have low correlation with FNMIX (below 0.3), 1 of which are negatively correlated. The least correlated is Fidelity Natural Resources Fund (FNARX) (Energy Equities) with a 1Y correlation of -0.07, down from 0.11 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Natural Resources Fund | -0.08 | 0.09 | 0.11 | 84 | Energy Equities | FNMIX vs FNARX | |
| Vanguard Short-Term Inflation-Protected Securities... | 0.12 | 0.33 | 0.34 | 91 | Inflation-Protected Bonds, Short-Term Bond, Investment Grade Bonds | FNMIX vs VTIPX | |
| Fidelity Select Semiconductors Portfolio | 0.31 | 0.21 | 0.26 | 80 | Semiconductors, Technology Equities | FNMIX vs FSELX | |
| Fidelity Floating Rate High Income Fund | 0.35 | 0.33 | 0.38 | 95 | Bank Loan | FNMIX vs FFRHX | |
| Fidelity Equity Dividend Income Fund | 0.35 | 0.31 | 0.32 | 60 | Large Cap Value Equities | FNMIX vs FEQTX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FNMIX, 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 Apple Inc (AAPL) (Technology) with a 1Y correlation of 0.27, roughly unchanged from 0.24 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Apple Inc | 0.27 | 0.21 | 0.24 | 89 | Technology |
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