Looking to diversify beyond FSDAX? The mutual funds below have the lowest correlation with FSDAX — 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 FSDAX.
Best Diversifiers for FSDAX
6 mutual funds have low correlation with FSDAX (below 0.3), 1 of which are negatively correlated. The least correlated is Fidelity Select Energy Portfolio (FSENX) (Energy Equities) with a 1Y correlation of -0.09, down from 0.36 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | -0.09 | 0.20 | 0.36 | 62 | Energy Equities | FSDAX vs FSENX | |
| Vanguard Short-Term Inflation-Protected Securities... | 0.11 | 0.09 | 0.13 | 90 | Inflation-Protected Bonds | FSDAX vs VTAPX | |
| Fidelity Floating Rate High Income Fund | 0.14 | 0.20 | 0.27 | 93 | Bank Loan | FSDAX vs FFRHX | |
| Fidelity Global Commodity Stock Fund | 0.18 | 0.31 | 0.46 | 65 | Commodities | FSDAX vs FFGCX | |
| AQR Long-Short Equity Fund | 0.26 | 0.32 | 0.32 | 61 | Long-Short | FSDAX vs QLEIX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FSDAX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FSDAX and solid risk/return profiles. The least correlated is Devon Energy Corporation (DVN) (Energy) with a 1Y correlation of -0.16, down from 0.28 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Devon Energy Corporation | -0.16 | 0.11 | 0.28 | 72 | Energy | |
| Verizon Communications Inc. | -0.15 | -0.00 | 0.12 | 57 | Communication Services | |
| ConocoPhillips Company | -0.14 | 0.10 | 0.27 | 66 | Energy | |
| Exxon Mobil Corporation | -0.13 | 0.09 | 0.25 | 75 | Energy | |
| Altria Group, Inc. | -0.13 | 0.00 | 0.16 | 81 | Consumer Defensive |
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