Looking to diversify beyond FNMIX? The mutual funds below have the lowest correlation with FNMIX — 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 FNMIX.
Best Diversifiers for FNMIX
3 mutual funds have low correlation with FNMIX (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard Short-Term Inflation-Protected Securities Index Fund Investor Shares (VTIPX) (Inflation-Protected Bonds) with a 1Y correlation of 0.10, down from 0.33 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Short-Term Inflation-Protected Securities... | 0.10 | 0.33 | 0.33 | 88 | Inflation-Protected Bonds | FNMIX vs VTIPX | |
| Virtus Stone Harbor Emerging Markets Income Fund | 0.24 | 0.25 | 0.32 | 63 | Emerging Markets Bonds | FNMIX vs EDF | |
| Fidelity Select Semiconductors Portfolio | 0.30 | 0.21 | 0.26 | 96 | Semiconductors, Technology Equities | FNMIX vs FSELX | |
| Fidelity Dividend Growth Fund | 0.35 | 0.28 | 0.30 | 87 | Large Cap Blend Equities, Dividend | FNMIX vs FDGFX | |
| Fidelity Floating Rate High Income Fund | 0.36 | 0.33 | 0.38 | 92 | Bank Loan | FNMIX vs FFRHX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FNMIX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FNMIX and solid risk/return profiles. The least correlated is Apple Inc (AAPL) (Technology) with a 1Y correlation of 0.26, roughly unchanged from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Apple Inc | 0.26 | 0.21 | 0.24 | 88 | Technology |
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