Looking to diversify beyond FSKAX? The mutual funds below have historically moved differently from FSKAX, 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 FSKAX
50 mutual funds have low correlation with FSKAX (below 0.3), 3 of which are negatively correlated. The least correlated is Fidelity SAI Inflation-Focused (FIFGX) (Commodities) with a 1Y correlation of -0.18, down from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity SAI Inflation-Focused | -0.18 | 0.00 | 0.13 | 74 | Commodities | FSKAX vs FIFGX | |
| Fidelity Select Energy Portfolio | -0.07 | 0.21 | 0.34 | 88 | Energy Equities | FSKAX vs FSENX | |
| Fidelity Commodity Strategy Fund | -0.01 | 0.09 | 0.17 | 65 | Commodities | FSKAX vs FYHTX | |
| Fidelity Series Commodity Strategy Fund | 0.00 | 0.10 | 0.18 | 69 | Commodities | FSKAX vs FCSSX | |
| Fidelity Series Treasury Bill Index Fund | 0.03 | 0.01 | 0.03 | 100 | Ultrashort Bond | FSKAX vs FHQFX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FSKAX, 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 -0.28, down from 0.11 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.28 | -0.03 | 0.11 | 64 | Consumer Defensive | |
| The Coca-Cola Company | -0.23 | 0.03 | 0.19 | 86 | Consumer Defensive | |
| Chevron Corporation | -0.22 | 0.06 | 0.22 | 76 | Energy | |
| Occidental Petroleum Corporation | -0.21 | 0.08 | 0.24 | 68 | Energy | |
| Exxon Mobil Corporation | -0.20 | 0.04 | 0.20 | 85 | Energy |
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