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Fidelity Small Cap Discovery Fund (FSCRX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jun 4, 2026

The fund normally invests at least 80% of assets in securities of companies with small market capitalizations (which, for purposes of this fund, are those companies with market capitalizations similar to companies in the Russell 2000 Index or the S&P SmallCap 600 Index). It invests in domestic and foreign issuers. The fund invests in either "growth" stocks or "value" stocks or both. The advisor uses fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments.

Looking to diversify beyond FSCRX? The mutual funds below have the lowest correlation with FSCRX — 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 FSCRX.

Best Diversifiers for FSCRX

0 mutual funds have low correlation with FSCRX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Emerging Markets (FEMKX) (Emerging Markets Equities) with a 1Y correlation of 0.52, roughly unchanged from 0.60 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
FEMKX
Fidelity Emerging Markets0.520.550.60
87
Emerging Markets EquitiesFSCRX vs FEMKX
FOCPX
Fidelity OTC Portfolio0.520.540.66
93
Large Cap Growth EquitiesFSCRX vs FOCPX
FSPTX
Fidelity Select Technology Portfolio0.540.540.65
94
Technology EquitiesFSCRX vs FSPTX
FSELX
Fidelity Select Semiconductors Portfolio0.550.550.63
97
Semiconductors, Technology EquitiesFSCRX vs FSELX
FBGRX
Fidelity Blue Chip Growth Fund0.570.580.69
75
Large Cap Growth EquitiesFSCRX vs FBGRX
See all 49 diversifiers for FSCRX

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from FSCRX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FSCRX and solid risk/return profiles. The least correlated is SoFi Technologies, Inc. (SOFI) (Financial Services) with a 1Y correlation of 0.43, down from 0.55 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
SOFI
SoFi Technologies, Inc.0.430.570.55
51
Financial Services

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