Looking to diversify beyond FSCHX? The mutual funds below have historically moved differently from FSCHX, 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 FSCHX
23 mutual funds have low correlation with FSCHX (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 0.31 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Floating Rate High Income Fund | 0.07 | 0.21 | 0.31 | 95 | Bank Loan | FSCHX vs FFRHX | |
| Recurrent MLP & Infrastructure Fund | 0.07 | 0.30 | 0.47 | 92 | Infrastructure Equities, Energy Equities | FSCHX vs RMLPX | |
| Guinness Atkinson Global Energy Fund | 0.07 | 0.28 | 0.42 | 84 | Energy Equities | FSCHX vs GAGEX | |
| Invesco SteelPath MLP Alpha Fund | 0.08 | 0.28 | 0.46 | 81 | Energy Equities | FSCHX vs MLPOX | |
| Fidelity Select Energy Portfolio | 0.08 | 0.30 | 0.44 | 87 | Energy Equities | FSCHX vs FSENX |
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