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
2 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 0.06, roughly unchanged 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... | 0.06 | 0.12 | 0.15 | 84 | Inflation-Protected Bonds | FSMAX vs VTAPX | |
| Fidelity Floating Rate High Income Fund | 0.22 | 0.29 | 0.33 | 92 | Bank Loan | FSMAX vs FFRHX | |
| AQR Long-Short Equity Fund | 0.31 | 0.34 | 0.22 | 57 | Long-Short | FSMAX vs QLEIX | |
| AQR Long-Short Equity Fund Class N | 0.31 | 0.34 | 0.22 | 54 | Long-Short, Actively Managed | FSMAX vs QLENX | |
| Strategic Advisers Fidelity Emerging Markets Fund | 0.50 | 0.54 | 0.60 | 94 | Emerging Markets Diversified | FSMAX vs FGOMX |
To view more results, upgrade your current subscription plan.
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 -0.20, down from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.20 | 0.00 | 0.11 | 72 | Consumer Defensive | |
| The Coca-Cola Company | -0.16 | 0.01 | 0.13 | 74 | Consumer Defensive | |
| Duke Energy Corporation | -0.12 | -0.00 | 0.07 | 62 | Utilities | |
| Exxon Mobil Corporation | -0.12 | 0.12 | 0.23 | 72 | Energy | |
| Chubb Limited | -0.11 | 0.06 | 0.21 | 69 | Financial Services |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements FSMAX
Add FSMAX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with FSMAX