Looking to diversify beyond FPHAX? The mutual funds below have historically moved differently from FPHAX, 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 FPHAX
10 mutual funds have low correlation with FPHAX (below 0.3), 2 of which are negatively correlated. The least correlated is Vanguard Energy Index Fund Admiral Shares (VENAX) (Energy Equities) with a 1Y correlation of -0.10, down from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Energy Index Fund Admiral Shares | -0.10 | 0.04 | 0.13 | 71 | Energy Equities | FPHAX vs VENAX | |
| Fidelity Select Energy Portfolio | -0.09 | 0.06 | 0.14 | 87 | Energy Equities | FPHAX vs FSENX | |
| Fidelity Floating Rate High Income Fund | 0.05 | 0.15 | 0.17 | 93 | Bank Loan | FPHAX vs FFRHX | |
| Fidelity Global Commodity Stock Fund | 0.10 | 0.24 | 0.28 | 87 | Commodities | FPHAX vs FFGCX | |
| Fidelity Select Technology Portfolio | 0.12 | 0.27 | 0.37 | 65 | Technology Equities | FPHAX vs FSPTX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FPHAX, 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 Primerica, Inc. (PRI) (Financial Services) with a 1Y correlation of 0.03, down from 0.30 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Primerica, Inc. | 0.03 | 0.22 | 0.30 | 74 | Financial Services | |
| CrowdStrike Holdings, Inc. | 0.04 | 0.18 | 0.27 | 83 | Technology | |
| Snowflake Inc. | 0.05 | 0.19 | 0.26 | 69 | Technology | |
| Alibaba Group Holding Limited | 0.07 | 0.17 | 0.21 | 50 | Consumer Cyclical | |
| The Charles Schwab Corporation | 0.08 | 0.23 | 0.27 | 58 | Financial Services |
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