Looking to diversify beyond FSLEX? The mutual funds below have the lowest correlation with FSLEX — 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 FSLEX.
Best Diversifiers for FSLEX
0 mutual funds have low correlation with FSLEX (below 0.3), 0 of which are negatively correlated. The least correlated is ARK Venture Fund (ARKVX) (Technology Equities) with a 1Y correlation of 0.46, down from 0.60 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ARK Venture Fund | 0.46 | 0.60 | — | 99 | Technology Equities | FSLEX vs ARKVX | |
| Fidelity Emerging Asia Fund | 0.64 | 0.63 | 0.62 | 91 | Asia Pacific Equities | FSLEX vs FSEAX | |
| Goldman Sachs Clean Energy Income Fund Class A Sha... | 0.66 | 0.55 | 0.64 | 84 | Alternative Energy Equities | FSLEX vs GCEBX | |
| New Alternatives Fund Investor Class | 0.72 | 0.64 | 0.68 | 59 | Alternative Energy Equities | FSLEX vs NAEFX | |
| Fidelity Select Technology Portfolio | 0.73 | 0.76 | 0.82 | 89 | Technology Equities | FSLEX vs FSPTX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FSLEX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FSLEX and solid risk/return profiles. The least correlated is Apple Inc (AAPL) (Technology) with a 1Y correlation of 0.39, down from 0.60 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Apple Inc | 0.39 | 0.45 | 0.60 | 88 | Technology | |
| Alphabet Inc. Class A | 0.41 | 0.46 | 0.58 | 96 | Communication Services | |
| NVIDIA Corporation | 0.44 | 0.50 | 0.62 | 76 | Technology | |
| Reaves Utility Income Trust | 0.51 | 0.41 | 0.47 | 81 | Financial Services |
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