Looking to diversify beyond FSDIX? The mutual funds below have the lowest correlation with FSDIX — 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 FSDIX.
Best Diversifiers for FSDIX
6 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 0.02, down from 0.45 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MH Elite Small Cap Fund of Funds Fund | 0.02 | 0.18 | 0.45 | 67 | Diversified Portfolio | FSDIX vs MHELX | |
| Fidelity Conservative Income Bond Institutional Cl... | 0.14 | 0.07 | 0.04 | 99 | Total Bond Market | FSDIX vs FCNVX | |
| T. Rowe Price Ultra Short-Term Bond Fund | 0.16 | 0.10 | 0.09 | 99 | Ultrashort Bond | FSDIX vs TRBUX | |
| American Funds Tax-Exempt Preservation Portfolio | 0.17 | 0.22 | 0.16 | 68 | Municipal Bonds | FSDIX vs TEPAX | |
| Fidelity Floating Rate High Income Fund | 0.18 | 0.30 | 0.34 | 92 | Bank Loan | FSDIX vs FFRHX |
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