Looking to diversify beyond FPHAX? The mutual funds below have the lowest correlation with FPHAX — 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 FPHAX.
Best Diversifiers for FPHAX
10 mutual funds have low correlation with FPHAX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Floating Rate High Income Fund (FFRHX) (Bank Loan) with a 1Y correlation of 0.07, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Floating Rate High Income Fund | 0.07 | 0.16 | 0.18 | 92 | Bank Loan | FPHAX vs FFRHX | |
| Fidelity Global Commodity Stock Fund | 0.18 | 0.25 | 0.30 | 68 | Commodities | FPHAX vs FFGCX | |
| Fidelity Select Technology Portfolio | 0.18 | 0.30 | 0.39 | 89 | Technology Equities | FPHAX vs FSPTX | |
| Fidelity Select Semiconductors Portfolio | 0.23 | 0.30 | 0.35 | 96 | Semiconductors, Technology Equities | FPHAX vs FSELX | |
| Columbia Seligman Global Technology Fund | 0.23 | 0.35 | 0.41 | 96 | Technology Equities | FPHAX vs SHGTX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FPHAX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FPHAX and solid risk/return profiles. The least correlated is Primerica, Inc. (PRI) (Financial Services) with a 1Y correlation of 0.01, down from 0.30 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Primerica, Inc. | 0.01 | 0.21 | 0.30 | 52 | Financial Services | |
| CrowdStrike Holdings, Inc. | 0.03 | 0.20 | 0.28 | 65 | Technology | |
| First Solar, Inc. | 0.19 | 0.20 | 0.24 | 76 | Technology | |
| Taiwan Semiconductor Manufacturing Company Limited | 0.20 | 0.27 | 0.29 | 93 | Technology | |
| Enphase Energy, Inc. | 0.28 | 0.27 | 0.31 | 61 | Technology |
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Build a portfolio that complements FPHAX
Add FPHAX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with FPHAX