Looking to diversify beyond FSKAX? The mutual funds below have the lowest correlation with FSKAX — 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 FSKAX.
Best Diversifiers for FSKAX
82 mutual funds have low correlation with FSKAX (below 0.3), 2 of which are negatively correlated. The least correlated is Fidelity Select Energy Portfolio (FSENX) (Energy Equities) with a 1Y correlation of -0.03, down from 0.35 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Energy Portfolio | -0.03 | 0.23 | 0.35 | 51 | Energy Equities | FSKAX vs FSENX | |
| Fidelity Series Treasury Bill Index Fund | -0.00 | 0.02 | 0.02 | 100 | Ultrashort Bond | FSKAX vs FHQFX | |
| Fidelity Series 0-5 Year Inflation-Protected Bond ... | 0.03 | 0.11 | — | 79 | Inflation-Protected Bonds | FSKAX vs FSTZX | |
| Vanguard Short-Term Inflation-Protected Securities... | 0.04 | 0.10 | 0.15 | 82 | Inflation-Protected Bonds | FSKAX vs VTAPX | |
| Strategic Advisers Tax-Sensitive Short Duration Fu... | 0.04 | 0.05 | 0.03 | 97 | Municipal Bonds | FSKAX vs FGNSX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FSKAX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FSKAX and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.20, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.20 | 0.01 | 0.13 | 74 | Consumer Defensive | |
| Exxon Mobil Corporation | -0.17 | 0.06 | 0.22 | 74 | Energy | |
| The Coca-Cola Company | -0.16 | 0.05 | 0.21 | 74 | Consumer Defensive | |
| Chevron Corporation | -0.14 | 0.08 | 0.22 | 70 | Energy | |
| Duke Energy Corporation | -0.13 | 0.01 | 0.11 | 64 | Utilities |
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