Looking to diversify beyond FSEAX? The mutual funds below have historically moved differently from FSEAX, 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 FSEAX
4 mutual funds have low correlation with FSEAX (below 0.3), 2 of which are negatively correlated. The least correlated is ProFunds UltraSector Oil & Gas Fund (ENPIX) (Leveraged Equities) with a 1Y correlation of -0.09, down from 0.19 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProFunds UltraSector Oil & Gas Fund | -0.09 | 0.10 | 0.19 | 63 | Leveraged Equities | FSEAX vs ENPIX | |
| Fidelity SAI Inflation-Focused | -0.07 | 0.12 | 0.16 | 79 | Commodities | FSEAX vs FIFGX | |
| Fidelity Select Pharmaceuticals Portfolio | 0.21 | 0.30 | 0.34 | 90 | Health & Biotech Equities | FSEAX vs FPHAX | |
| Fidelity Floating Rate High Income Fund | 0.22 | 0.21 | 0.27 | 95 | Bank Loan | FSEAX vs FFRHX | |
| Aegis Value Fund Class I | 0.35 | 0.42 | 0.46 | 94 | Small Cap Value Equities | FSEAX vs AVALX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FSEAX, 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 Exxon Mobil Corporation (XOM) (Energy) with a 1Y correlation of -0.16, down from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Exxon Mobil Corporation | -0.16 | 0.03 | 0.12 | 84 | Energy |
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