Looking to diversify beyond FSHCX? The mutual funds below have historically moved differently from FSHCX, 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 FSHCX
19 mutual funds have low correlation with FSHCX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Select Technology Portfolio (FSPTX) (Technology Equities) with a 1Y correlation of 0.07, down from 0.27 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Technology Portfolio | 0.07 | 0.08 | 0.27 | 72 | Technology Equities | FSHCX vs FSPTX | |
| Fidelity Select Semiconductors Portfolio | 0.07 | 0.07 | 0.22 | 80 | Semiconductors, Technology Equities | FSHCX vs FSELX | |
| Fidelity OTC Portfolio | 0.08 | 0.11 | 0.30 | 76 | Large Cap Growth Equities | FSHCX vs FOCPX | |
| Fidelity Emerging Markets Fund | 0.13 | 0.10 | 0.22 | 52 | Emerging Markets Equities | FSHCX vs FEMKX | |
| Fidelity Total International Index Fund | 0.19 | 0.22 | 0.34 | 73 | Foreign Large Cap Equities | FSHCX vs FTIHX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FSHCX, 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 Johnson & Johnson (JNJ) (Healthcare) with a 1Y correlation of 0.26, down from 0.37 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Johnson & Johnson | 0.26 | 0.32 | 0.37 | 97 | Healthcare | |
| AbbVie Inc. | 0.28 | 0.32 | 0.37 | 81 | Healthcare |
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