Looking to diversify beyond FSCPX? The mutual funds below have historically moved differently from FSCPX, 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 FSCPX
3 mutual funds have low correlation with FSCPX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Global Commodity Stock Fund (FFGCX) (Commodities) with a 1Y correlation of 0.11, down from 0.41 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Global Commodity Stock Fund | 0.11 | 0.36 | 0.41 | 88 | Commodities | FSCPX vs FFGCX | |
| Fidelity Select Health Care Services Portfolio | 0.23 | 0.26 | 0.36 | 68 | Health & Biotech Equities | FSCPX vs FSHCX | |
| Fidelity Select Pharmaceuticals Portfolio | 0.29 | 0.38 | 0.42 | 90 | Health & Biotech Equities | FSCPX vs FPHAX | |
| Vanguard Health Care Fund Investor Shares | 0.33 | 0.43 | 0.50 | 75 | Health & Biotech Equities | FSCPX vs VGHCX | |
| Fidelity Select Semiconductors Portfolio | 0.45 | 0.57 | 0.66 | 80 | Semiconductors, Technology Equities | FSCPX vs FSELX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FSCPX, 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 The Charles Schwab Corporation (SCHW) (Financial Services) with a 1Y correlation of 0.15, down from 0.42 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Charles Schwab Corporation | 0.15 | 0.35 | 0.42 | 54 | Financial Services | |
| Snowflake Inc. | 0.19 | 0.41 | 0.54 | 62 | Technology | |
| CrowdStrike Holdings, Inc. | 0.26 | 0.41 | 0.50 | 80 | Technology | |
| First Solar, Inc. | 0.33 | 0.35 | 0.39 | 58 | Technology | |
| Enphase Energy, Inc. | 0.42 | 0.40 | 0.46 | 55 | Technology |
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