Looking to diversify beyond FSMAX? The mutual funds below have the lowest correlation with FSMAX — 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 FSMAX.
Best Diversifiers for FSMAX
4 mutual funds have low correlation with FSMAX (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares (VTAPX) (Inflation-Protected Bonds) with a 1Y correlation of 0.01, down from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Short-Term Inflation-Protected Securities... | 0.01 | 0.11 | 0.15 | 94 | Inflation-Protected Bonds | FSMAX vs VTAPX | |
| Fidelity Select Energy Portfolio | 0.07 | 0.34 | 0.41 | 79 | Energy Equities | FSMAX vs FSENX | |
| Fidelity Floating Rate High Income Fund | 0.23 | 0.29 | 0.33 | 92 | High Yield Bonds | FSMAX vs FFRHX | |
| AQR Long-Short Equity Fund | 0.30 | 0.34 | 0.22 | 53 | Long-Short | FSMAX vs QLEIX | |
| AQR Long-Short Equity N | 0.30 | 0.35 | 0.22 | 51 | Long-Short | FSMAX vs QLENX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FSMAX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FSMAX and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.19, down from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.19 | 0.03 | 0.12 | 69 | Consumer Defensive | |
| Duke Energy Corporation | -0.13 | -0.00 | 0.07 | 53 | Utilities | |
| The Coca-Cola Company | -0.12 | 0.03 | 0.14 | 66 | Consumer Defensive | |
| Exxon Mobil Corporation | -0.09 | 0.15 | 0.24 | 85 | Energy | |
| Chubb Limited | -0.08 | 0.09 | 0.22 | 51 | Financial Services |
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Build a portfolio that complements FSMAX
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