Looking to diversify beyond FSLBX? The mutual funds below have historically moved differently from FSLBX, 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 FSLBX
2 mutual funds have low correlation with FSLBX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity Select Health Care Services Portfolio (FSHCX) (Health & Biotech Equities) with a 1Y correlation of 0.26, down from 0.40 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Select Health Care Services Portfolio | 0.26 | 0.26 | 0.40 | 66 | Health & Biotech Equities | FSLBX vs FSHCX | |
| Fidelity Select Semiconductors Portfolio | 0.29 | 0.46 | 0.58 | 80 | Semiconductors, Technology Equities | FSLBX vs FSELX | |
| Fidelity Emerging Asia Fund | 0.31 | 0.40 | 0.50 | 69 | Asia Pacific Equities | FSLBX vs FSEAX | |
| Fidelity Emerging Markets Fund | 0.34 | 0.46 | 0.56 | 52 | Emerging Markets Equities | FSLBX vs FEMKX | |
| Oberweis Micro Cap Fund | 0.38 | 0.62 | 0.70 | 73 | Small Cap Growth Equities | FSLBX vs OBMCX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FSLBX, 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 Fomento Económico Mexicano, S.A.B. de C.V. (FMX) (Consumer Defensive) with a 1Y correlation of 0.16, down from 0.31 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Fomento Económico Mexicano, S.A.B. de C.V. | 0.16 | 0.23 | 0.31 | 92 | Consumer Defensive | |
| Alphabet Inc. Class A | 0.34 | 0.37 | 0.49 | 96 | Communication Services | |
| Chimera Investment Corporation | 0.35 | 0.43 | 0.52 | 69 | Real Estate | |
| Amazon.com, Inc | 0.37 | 0.43 | 0.52 | 72 | Consumer Cyclical |
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