Looking to diversify beyond FSDIX? The mutual funds below have historically moved differently from FSDIX, 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 FSDIX
9 mutual funds have low correlation with FSDIX (below 0.3), 0 of which are negatively correlated. The least correlated is MH Elite Small Cap Fund of Funds Fund (MHELX) (Diversified Portfolio) with a 1Y correlation of 0.01, down from 0.47 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MH Elite Small Cap Fund of Funds Fund | 0.01 | 0.14 | 0.47 | 66 | Diversified Portfolio | FSDIX vs MHELX | |
| SEI Institutional Managed Trust Multi-Asset Inflat... | 0.05 | 0.17 | 0.25 | 83 | Diversified Portfolio | FSDIX vs SIFAX | |
| Fidelity Conservative Income Bond Institutional Cl... | 0.09 | 0.06 | 0.03 | 100 | Ultrashort Bond | FSDIX vs FCNVX | |
| Fidelity Floating Rate High Income Fund | 0.14 | 0.28 | 0.33 | 95 | Bank Loan | FSDIX vs FFRHX | |
| Fidelity Select Energy Portfolio | 0.17 | 0.37 | 0.43 | 87 | Energy Equities | FSDIX vs FSENX |
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