Looking to diversify beyond FSMAX? The mutual funds below have historically moved differently from FSMAX, 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 FSMAX
4 mutual funds have low correlation with FSMAX (below 0.3), 1 of which are negatively correlated. The least correlated is Fidelity SAI Inflation-Focused (FIFGX) (Commodities) with a 1Y correlation of -0.16, down from 0.14 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity SAI Inflation-Focused | -0.16 | 0.02 | 0.14 | 78 | Commodities | FSMAX vs FIFGX | |
| Fidelity Select Energy Portfolio | 0.01 | 0.28 | 0.38 | 87 | Energy Equities | FSMAX vs FSENX | |
| Vanguard Short-Term Inflation-Protected Securities... | 0.09 | 0.11 | 0.15 | 91 | Inflation-Protected Bonds | FSMAX vs VTAPX | |
| Fidelity Floating Rate High Income Fund | 0.19 | 0.28 | 0.32 | 93 | Bank Loan | FSMAX vs FFRHX | |
| AQR Long-Short Equity Fund | 0.32 | 0.34 | 0.22 | 77 | Long-Short | FSMAX vs QLEIX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FSMAX, 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 -0.26, down from 0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.26 | -0.02 | 0.10 | 66 | Consumer Defensive | |
| The Coca-Cola Company | -0.23 | -0.01 | 0.13 | 87 | Consumer Defensive | |
| Duke Energy Corporation | -0.20 | -0.02 | 0.08 | 52 | Utilities | |
| Chubb Limited | -0.18 | 0.06 | 0.22 | 87 | Financial Services | |
| Exxon Mobil Corporation | -0.16 | 0.10 | 0.22 | 85 | Energy |
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