Looking to diversify beyond FSENX? The mutual funds below have historically moved differently from FSENX, 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 FSENX
129 mutual funds have low correlation with FSENX (below 0.3), 80 of which are negatively correlated. The least correlated is Fidelity Limited Term Bond Fund (FJRLX) (Total Bond Market) with a 1Y correlation of -0.31, down from -0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Limited Term Bond Fund | -0.31 | -0.12 | -0.09 | 73 | Total Bond Market | FSENX vs FJRLX | |
| PIMCO Income Fund Institutional Class | -0.28 | -0.06 | 0.04 | 52 | Multisector Bonds | FSENX vs PIMIX | |
| Fidelity Strategic Income Fund | -0.20 | 0.06 | 0.10 | 72 | Multisector Bonds | FSENX vs FADMX | |
| Fidelity High Income Fund | -0.17 | 0.10 | 0.19 | 90 | High Yield Bonds | FSENX vs SPHIX | |
| Adams Diversified Equity Fund, Inc. | -0.14 | 0.15 | 0.29 | 83 | Large Cap Blend Equities | FSENX vs ADX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FSENX, 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 Alphabet Inc. Class A (GOOGL) (Communication Services) with a 1Y correlation of -0.16, down from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Alphabet Inc. Class A | -0.16 | 0.03 | 0.13 | 95 | Communication Services | |
| Amazon.com, Inc | -0.15 | 0.03 | 0.11 | 60 | Consumer Cyclical | |
| General Electric Company | -0.15 | 0.09 | 0.26 | 74 | Industrials | |
| The Bank of Nova Scotia | -0.13 | 0.12 | 0.32 | 97 | Financial Services | |
| Apple Inc | -0.12 | 0.04 | 0.15 | 89 | Technology |
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