Looking to diversify beyond FSENX? The mutual funds below have the lowest correlation with FSENX — 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 FSENX.
Best Diversifiers for FSENX
126 mutual funds have low correlation with FSENX (below 0.3), 75 of which are negatively correlated. The least correlated is Fidelity Limited Term Bond Fund (FJRLX) (Total Bond Market) with a 1Y correlation of -0.26, down from -0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Limited Term Bond Fund | -0.26 | -0.10 | -0.09 | 70 | Total Bond Market | FSENX vs FJRLX | |
| Fidelity Strategic Income Fund | -0.18 | 0.07 | 0.11 | 80 | Multisector Bond | FSENX vs FADMX | |
| T. Rowe Price Capital Appreciation Fund | -0.15 | 0.16 | 0.28 | 51 | Diversified Portfolio | FSENX vs PRWCX | |
| Adams Diversified Equity Fund, Inc. | -0.15 | 0.15 | 0.29 | 82 | Large Cap Blend Equities | FSENX vs ADX | |
| Fidelity High Income Fund | -0.15 | 0.11 | 0.20 | 92 | High Yield Bonds | FSENX vs SPHIX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FSENX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FSENX and solid risk/return profiles. The least correlated is Amazon.com, Inc (AMZN) (Consumer Cyclical) with a 1Y correlation of -0.14, down from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Amazon.com, Inc | -0.14 | 0.04 | 0.12 | 55 | Consumer Cyclical | |
| Broadcom Inc. | -0.10 | 0.06 | 0.15 | 73 | Technology | |
| General Electric Company | -0.10 | 0.12 | 0.28 | 80 | Industrials | |
| The TJX Companies, Inc. | -0.10 | 0.07 | 0.17 | 79 | Consumer Cyclical | |
| The Bank of Nova Scotia | -0.09 | 0.14 | 0.31 | 97 | Financial Services |
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