Looking to diversify beyond FSELX? The mutual funds below have historically moved differently from FSELX, 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 FSELX
84 mutual funds have low correlation with FSELX (below 0.3), 7 of which are negatively correlated. The least correlated is ProFunds UltraSector Oil & Gas Fund (ENPIX) (Leveraged Equities) with a 1Y correlation of -0.07, down from 0.18 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 | -0.07 | 0.07 | 0.18 | 61 | Leveraged Equities | FSELX vs ENPIX | |
| Fidelity Sustainable Low Duration Bond | -0.06 | -0.08 | — | 99 | Ultrashort Bond | FSELX vs FAPGX | |
| Vanguard Energy Index Fund Admiral Shares | -0.05 | 0.09 | 0.20 | 71 | Energy Equities | FSELX vs VENAX | |
| Fidelity SAI Inflation-Focused | -0.04 | 0.07 | 0.13 | 74 | Commodities | FSELX vs FIFGX | |
| Fidelity Flex Conservative Income Municipal Bond F... | -0.04 | -0.02 | -0.01 | 98 | Municipal Bonds | FSELX vs FUEMX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FSELX, 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 Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.38, down from -0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.38 | -0.23 | -0.10 | 64 | Consumer Defensive | |
| Chubb Limited | -0.34 | -0.14 | 0.01 | 86 | Financial Services | |
| Colgate-Palmolive Company | -0.33 | -0.20 | -0.09 | 59 | Consumer Defensive | |
| Verizon Communications Inc. | -0.33 | -0.21 | -0.08 | 63 | Communication Services | |
| The Coca-Cola Company | -0.32 | -0.17 | -0.02 | 86 | Consumer Defensive |
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