Looking to diversify beyond FSHCX? The mutual funds below have the lowest correlation with FSHCX — 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 FSHCX.
Best Diversifiers for FSHCX
15 mutual funds have low correlation with FSHCX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Select Semiconductors Portfolio (FSELX) (Semiconductors) with a 1Y correlation of 0.12, down from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Semiconductors Portfolio | 0.12 | 0.09 | 0.24 | 97 | Semiconductors, Technology Equities | FSHCX vs FSELX | |
| Fidelity Select Technology Portfolio | 0.13 | 0.12 | 0.29 | 93 | Technology Equities | FSHCX vs FSPTX | |
| Fidelity OTC Portfolio | 0.14 | 0.14 | 0.32 | 92 | Large Cap Growth Equities | FSHCX vs FOCPX | |
| Fidelity Blue Chip Growth Fund | 0.15 | 0.14 | 0.32 | 75 | Large Cap Growth Equities | FSHCX vs FBGRX | |
| Fidelity NASDAQ Composite Index Fund | 0.18 | 0.18 | 0.35 | 70 | Large Cap Growth Equities | FSHCX vs FNCMX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FSHCX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FSHCX and solid risk/return profiles. The least correlated is Johnson & Johnson (JNJ) (Healthcare) with a 1Y correlation of 0.22, down from 0.37 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Johnson & Johnson | 0.22 | 0.30 | 0.37 | 92 | Healthcare | |
| AbbVie Inc. | 0.26 | 0.29 | 0.35 | 62 | Healthcare |
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