Looking to diversify beyond FSELX? The mutual funds below have the lowest correlation with FSELX — 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 FSELX.
Best Diversifiers for FSELX
110 mutual funds have low correlation with FSELX (below 0.3), 8 of which are negatively correlated. The least correlated is Strategic Advisers Tax-Sensitive Short Duration Fund (FGNSX) (Municipal Bonds) with a 1Y correlation of -0.07, roughly unchanged from -0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Strategic Advisers Tax-Sensitive Short Duration Fu... | -0.07 | -0.02 | -0.02 | 97 | Municipal Bonds | FSELX vs FGNSX | |
| Fidelity Sustainable Low Duration Bond | -0.06 | -0.08 | — | 99 | Ultrashort Bond | FSELX vs FAPGX | |
| Fidelity Series Treasury Bill Index Fund | -0.05 | -0.02 | 0.00 | 100 | Ultrashort Bond | FSELX vs FHQFX | |
| Fidelity Flex Conservative Income Municipal Bond F... | -0.05 | -0.01 | -0.00 | 98 | Municipal Bonds | FSELX vs FUEMX | |
| Fidelity SAI Low Duration Income Fund | -0.04 | -0.07 | -0.04 | 99 | Ultrashort Bond | FSELX vs FZOLX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FSELX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FSELX and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.33, down from -0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.33 | -0.20 | -0.08 | 74 | Consumer Defensive | |
| Duke Energy Corporation | -0.29 | -0.22 | -0.13 | 64 | Utilities | |
| Chubb Limited | -0.29 | -0.11 | 0.03 | 72 | Financial Services | |
| Verizon Communications Inc. | -0.27 | -0.17 | -0.07 | 62 | Communication Services | |
| Colgate-Palmolive Company | -0.27 | -0.17 | -0.07 | 50 | Consumer Defensive |
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