Looking to diversify beyond FPADX? The mutual funds below have the lowest correlation with FPADX — 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 FPADX.
Best Diversifiers for FPADX
8 mutual funds have low correlation with FPADX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Select Energy Portfolio (FSENX) (Energy Equities) with a 1Y correlation of 0.03, down from 0.31 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | 0.03 | 0.21 | 0.31 | 79 | Energy Equities | FPADX vs FSENX | |
| Vanguard Short-Term Inflation-Protected Securities... | 0.04 | 0.09 | 0.11 | 94 | Inflation-Protected Bonds | FPADX vs VTAPX | |
| Stone Ridge Reinsurance Risk Premium Interval Fund | 0.05 | 0.08 | 0.07 | 100 | Multistrategy | FPADX vs SRRIX | |
| BlackRock Global Long/Short Equity Fund Class I | 0.19 | 0.07 | 0.03 | 92 | Long-Short | FPADX vs BDMIX | |
| Fidelity Floating Rate High Income Fund | 0.22 | 0.22 | 0.30 | 92 | High Yield Bonds | FPADX vs FFRHX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FPADX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FPADX and solid risk/return profiles. The least correlated is Duke Energy Corporation (DUK) (Utilities) with a 1Y correlation of -0.21, down from 0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Duke Energy Corporation | -0.21 | -0.02 | 0.01 | 53 | Utilities | |
| Chubb Limited | -0.20 | -0.04 | 0.10 | 51 | Financial Services | |
| Altria Group, Inc. | -0.18 | -0.01 | 0.06 | 69 | Consumer Defensive | |
| Walmart Inc. | -0.15 | 0.04 | 0.09 | 63 | Consumer Defensive | |
| Verizon Communications Inc. | -0.11 | 0.01 | 0.05 | 59 | Communication Services |
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Build a portfolio that complements FPADX
Add FPADX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with FPADX